The Apulian pasta factory, renowned for its “Casa Milo” brand, has rebranded from Gramm Srl to Gruppo Milo Spa while increasing its share capital from €300,000 to €1 million. The equity is equally distributed among the family owners, with five shareholders: matriarch Annamaria Olivieri and her children Giuseppe, Marida, Saverio, and Giovanni Milo, each holding a 20% stake.
Marking its 30th anniversary, the pasta manufacturer has restructured to navigate market challenges better and support growth. This shift also paves the way for alternative financial ventures beyond traditional banking, such as crowdfunding or a stock market listing.
“This transformation,” explains Giuseppe Milo, CEO of the newly formed corporation, “addresses the need for continued growth and increased market appeal. We are witnessing a steady rise in business volume, which requires a different structure. The new corporate setup provides greater reliability for all stakeholders in the supply chain, including end customers.”
GRUPPO MILO BY THE NUMBERS
In 2023, the Italian pasta manufacturer achieved a turnover exceeding 40 million euros, a 25% increase from the previous year, and aims to reach 45 million euros by the end of 2024. Exports account for 48% of the total revenue, reaching nearly 52% in the first quarter of 2024. The most significant markets are the United Kingdom, Germany, France, and especially the United States, which absorbs a substantial portion of the production from the group’s three plants.
Today, the challenge is to bet on Asian markets, particularly Vietnam and other Southeast Asian countries. To this end, the company is establishing commercial contacts in the region.
Recognized by Forbes as one of Italy’s top 100 companies, Gruppo Milo has rejuvenated its product lines, including dry pasta, fresh pasta, egg pasta, baked goods, and a new organic range.