Eurovo, the Italian egg product specialist, has acquired Waffelman, a Tuscan producer of waffles, pancakes, crêpes, and semi-finished baked goods, to strengthen its presence in the fast-growing breakfast bakery segment.
Based in Monsummano Terme (Pistoia), Waffelman recorded €2.6 million in revenue in 2024, up 28% from the previous year. The deal will allow Eurovo, which already supplied Waffelman with eggs and egg-based products, to expand its range of finished goods and leverage synergies in logistics and distribution to accelerate growth in retail and foodservice channels.
EUROVO: A MARKET LEADER IN EGG-BASED PRODUCTS
Eurovo is one of Europe’s leading egg product manufacturers, with €1.28 billion in revenue (2023), over 2,000 employees, and a network spanning more than 40 countries. Headquartered in Imola (Bologna), the company operates across the agricultural, industrial, and logistics sectors, with its largest production facility for liquid and powdered egg products—one of the biggest in Europe—located in Occhiobello (Rovigo, Veneto).
The company’s consumer brands, including Le Naturelle, ProUp, and Lolli, cater to retail markets, while Eurovo Service and Maia Professional focus on the foodservice sector. With 20 production sites across Italy, France, Spain, Poland, Romania, and Belgium, Eurovo has pursued an aggressive international expansion strategy, most recently acquiring Belgian egg processor Hulstaert&Cie.
“We have collaborated with Waffelman for some time on the production of our le Naturelle and ProUp pancakes, and this acquisition is a natural extension of that partnership,” said Federico Lionello, Eurovo’s Commercial and Marketing Director. “The deal allows us to expand our brand into finished products while maintaining our focus on quality and service. It also strengthens our presence in professional foodservice markets by broadening our product range.”