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July 28, 2024
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Italy-based ice-cream producer Gelato d’Italia has purchased the property of native ice lolly maker Gelati Giuntoli from administration.
The Pleasure-Veg proprietor has bought the model, vegetation and manufacturing property of Tuscany-based Giuntoli. Monetary particulars weren’t disclosed.
In a publish on LinkedIn, Gelato d’Italia stated the “transfer strengthens our management within the Italian market and likewise makes us the most important participant within the water ice class.”
The investor-backed firm added: “We’re gearing up for extra acquisitions in Europe and North America to develop additional our capabilities and broaden our market attain.”
Gelato d’Italia CEO Marco Pellegrino stated in a separate discover on its web site that the ice-cream producer will retain the employees who had been employed by Giuntoli.
“This primary step strengthens our place within the Italian market, due to a better manufacturing capability, which is able to permit us additional progress,” stated Pellegrino.
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“We’re pleased to announce that the previous Giuntoli workers will make the location 100% operational for the beginning of the following summer season season.”
Matt Frost, Gelato d’Italia’s working companion, stated the transaction “has been lengthy within the making”.
Giuntoli’s portfolio included manufacturers reminiscent of its namesake line and Tutta Natura.
Gelato d’Italia, wholly owned by Davidson Kempner-Afendis, is a co-producer and private-label producer that sells in European and North American markets.
It owns 4 manufacturers: Indianino, Gelato d’Italia, Gelato da Sogno and the vegan ice JoyVeg.
In accordance with the corporate’s web site, it produces 7.6 million popsicles a yr.
In July 2022, Davidson Kempner Capital Administration, headquartered in New York, and Turkey-based Afendis Capital Administration, signed a “definitive settlement” to accumulate Gelato d’Italia for an undisclosed sum.
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