The Italian dairy cooperative Latteria Soresina and the Zanetti Group have formed a consortium to seal the acquisition deal of Saviola Spa, which boasts a revenue of over 140 million euros, primarily driven by the sale of PDO-certified Grana Padano and Parmigiano Reggiano.
This strategic move aims to bolster Latteria Soresina and Zanetti’s foothold in both domestic and international markets, particularly with high-value-added products reliant on Italian milk sourcing. Moreover, the acquisition allows Saviola to perpetuate its enterprise, buoyed by the entrepreneurial prowess of two prominent players in the Italian dairy sector. Latteria Soresina concluded its 2023 consolidated revenue at nearly 518 million euros, marking a 3% increase over the previous year, while the Zanetti Group recorded a consolidated revenue of approximately 690 million euros, reflecting a 6.5% surge compared to 2022.
OPERATIONAL INSIGHTS
The acquisition of Saviola stands as a seminal move within the Italian dairy domain, particularly within the PDO hard cheese markets, including Grana Padano and Parmigiano Reggiano.
From a managerial standpoint, Latteria Soresina and Zanetti are poised to collaboratively steer Saviola’s operations through a meticulously defined organizational framework. This strategic maneuver aims to leverage their specialized entrepreneurial expertise to sustainably nurture the company’s growth trajectory while ensuring seamless continuity with the existing management under the stewardship of Emanuele Attanasio as CEO.
Tiziano Fusar Poli, President of Latteria Soresina, says: “This strategic acquisition underscores our commitment to propelling Latteria Soresina’s industrial expansion. The assets contributed by Saviola are instrumental in advancing our overarching mission and strategic imperatives.”
Attilio Zanetti, President and CEO of Zanetti Spa, echoes: “This landmark agreement is the culmination of synergistic efforts and unparalleled collaboration. Moving forward, the joint management initiative between a family-owned enterprise and a cooperative represents an exciting frontier in the Italian dairy landscape. Our shared ambition is to fortify and cement the global dominance of our flagship cheeses, thereby benefiting the broader sector and catalyzing positive cascading effects across the entire value chain.”