Pasta Zara, an Italian brand of dry pasta and a subsidiary of Pastificio Bragagnolo, has successfully concluded its negotiated settlement process, initiated a year ago to address the unexpected revocation of the prearranged agreement. By gaining access to the corporate crisis negotiated settlement, the company engaged in a series of fruitful discussions with its creditors to overcome financial imbalances.
The efforts of the appointed advisors from Pasta Zara and the third-party expert played a pivotal role in achieving numerous agreements with the creditors. After a prolonged negotiation phase, the company finalized a range of measures aimed at restructuring its debt exposure, subsequently consolidated into a comprehensive agreement. In line with the crisis resolution, the new business plan for 2023-2027 demonstrates alignment, underscoring Pasta Zara’s ability to maintain market positioning while upholding employment and business continuity.
Going forward, the company will continue to execute the business plan’s outlined strategies, with the goal of sustaining the positive momentum achieved in the previous year and reinforcing its product development and innovation strategy, which has already garnered a favorable market response. Chairman Furio Bragagnolo remarked, “Despite the year-long negotiations, Pasta Zara received unwavering support from employees, suppliers, and customers, reaffirming the strength of our core values and commercial relationships cultivated since the company’s inception. We have also successfully introduced a new product line under the Pastificio Bragagnolo brand, targeting the premium market segment, leveraging our agronomists’ careful selection of 100% Italian grains, free from glyphosate and pesticides. Additionally, a line of sauces will be launched. Supported by a strengthened commercial network, the company aims to consolidate its presence in the Italian market while actively pursuing international expansion for its products under the Pastificio Bragagnolo and Pasta Zara brands.”