IDB Group reports revenue growth in 2023

At the Italian group's facilities, production is in full swing for this year's Christmas panettone and a new line of muffins
IDB Group reports revenue growth in 2023

For IDB Group – Industria Dolciaria Borsari, 2023 has been a year marked by growth. The Italian company, specializing in sweet bakery products and led by Andrea Muzzi, has met its projected goals announced last year, which estimated a revenue growth of 5%. The group’s aggregated revenue (including companies IDB, Giovanni Cova & C., and Muzzi) increased from €67 million in 2022 to €71 million in 2023.

The company has now decided to invest in UHT muffin production: “It is a product appreciated worldwide, enjoyed by both adults and children and found in every corner of the globe, from South America to Japan. Even in the domestic market, the UHT muffin segment is currently the best performing, with volume growth of 16.7%,” states Andrea Muzzi.


Our goal,” says Muzzi, “is to bring high-quality pastry to everyday consumption occasions, maintaining a presence in major retail chains with continuous products that can be available on shelves for 12 months, and creating value through a premium offering that we believe is currently absent. With the Giovanni Cova & C. branded muffins, recognized as synonymous with Milanese tradition, mastery in pastry art, and a respectful adherence to traditional recipes, we aim to acquire a 10% share of the muffin segment and achieve revenues of five million euros by 2030.”


Exports have also shown a double-digit positive growth. Between Easter and Christmas 2023, the group achieved an 18% increase in sales, thanks to excellent performance in Spain, the United States, and Australia. Sales data in Eastern Europe are also encouraging. These are potentially interesting markets for IDB Group, which, although traditionally focused on the Italian market, is strongly embarking on its internationalization path, particularly focusing on the Tommaso Muzzi and Breramilano 1930 brands.

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