Bakery & Snacks

Crich Acquires Piovesana Biscotti

The acquisition is part of an investment plan based on expansion by external lines and increasing the range of references

Italian bakery company Biscotti Crich – based in Zenson di Piave (Treviso) and one of the leading Italian producers of biscuits, crackers and wafers – has acquired, through its subsidiary Quality Food Group SpA (Delser), Piovesana Biscotti SpA in San Vendemiano (Treviso). The latter is a historic bakery company in the Treviso area, founded in 1928 and producer of biscuits and crackers. It was acquired with a view to expansion by external lines of the Crich group. It is now present with its products throughout Italy and in over 50 foreign countries. The acquisition will allow it to widen the range of available products in order to meet the market demands.

THE SUCCESS OF BISCOTTI CRICH

In 2017, Crich’s consolidated revenues exceeded €168 million with a net income of €9.3 million. In the first half of 2018, turnover increased by 10% compared with the same period of 2017. The most important markets are Italy (63%), followed by EU and non-EU countries (37%). EBITDA index in 2017 was approximately 11%, equal to 18 million euros. During the last financial year, significant investments were made to support the company’s growth. Worthy of note is the increase in the number of employees: more than 500 people are currently employed in its three production plants.

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