Princes has signed a long-term partnership deal with Italian pasta producer Pastificio Guido Ferrara in a deal that it hopes will boost its European presence.
The supply partnership agreement, announced today (11 February), is part of a strategy to "more than double" Princes' sales of customer own brand and branded pasta in the European market over the next five years, it said.
The partnership is designed to bring together the pasta production capabilities of Ferrara with the supply credentials of Princes.
Ferrara is a long-term supplier to Princes and operates one of the most modern and well-invested pasta factories in Italy, according to the canned tuna producer.
"This new partnership agreement with Ferrara is further evidence of our commitment to expand our international operations and build strong supply partnerships," said Princes MD Ken Critchley. "Our vision is to continue to enhance Princes' capability, expertise and supply chain excellence across numerous markets to better serve our customers. We have an ambitious strategy to continue to strengthen our supply chains through partnership and selective acquisitions."
PRINCES SIGNS PARTNERSHIP AGREEMENT WITH ITALIAN PASTA SUPPLIER FERRARA
Long-term partnership agreement with Pastificio Guido Ferrara SPA supports European growth strategy
Princes, the UK-headquartered food and drink group, has signed a supply partnership agreement with Pastificio Guido Ferrara SPA (Ferrara), a leading Italian producer of dried pasta.
The agreement is part of a strategy to more than double Princes' sales of customer own brand and branded pasta in the European market over the next five years.
Ferrara, a long-term supplier to Princes, operates one of the most modern and well-invested pasta factories in Italy. The company, founded by ancestors of the Ferrara family in 1883, and managed today by the fifth generation of the family, has invested €40m in the past five years into its production site in Naples which has the capacity to make 150,000 metric tonnes of pasta annually. Ferrara intends to continue to invest in its production site and aims to increase capacity to 250,000 metric tonnes in the next 12 months.
The partnership brings together the pasta production capabilities of Ferrara with the supply credentials of Princes to offer reliable, quality products and a leading supply option to the grocery market.
Ken Critchley, Princes Managing Director, said: "This new partnership agreement with Ferrara is further evidence of our commitment to expand our international operations and build strong supply partnerships. Our vision is to continue to enhance Princes' capability, expertise and supply chain excellence across numerous markets to better serve our customers. We have an ambitious strategy to continue to strengthen our supply chains through partnership and selective acquisitions."
Luca Ferrara, Chief Executive of Pastificio Guido Ferrara, said: "Our new partnership with Princes reflects our global strategy of working with leading partners and is a signal of both companies' ambition to jointly grow pasta sales to new customers, markets and territories. We already have a very strong relationship with Princes and look forward to working with the company over the coming years."
The partnership with Ferrara is part of Princes' plan to strengthen its continental European supply base and is its second major partnership in Italy within the last 12 months.
