Four-year plan sees Granarolo target acquisitions and €1.6bn turnover

By Ben Bouckley

- Last updated on GMT

Italian dairy company Granarolo says it is pursuing a €1.6bn turnover as part of a four-year growth plan that will see the firm pursue more acquisitions both at home and internationally.

A Granarolo spokeswoman told DairyReporter.com: “Our industrial plan foresees an internal and external growth strategy, with the goal of reaching €1.6bn in four years time.”

She added: “As of the area, we are first considering acquisitions in Italy, but international expansion is certainly an important aim within our plans.”

Granarolo recently ramped-up its presence within the EU dairy sector by acquiring Italian cheese producer Lat Bri​ for around €60m, in a move that took its turnover above €1bn.

At the time, Granarolo said it was targeting further growth for Italian products in Northern Europe, and the spokeswoman said that exports now accounted for more than 30 per cent of the firm’s exports.

Italian cheese growth

Main [export] destinations in Europe are: Spain, France, England, Germany, Sweden, and we hope to see further growth in these countries,” ​she explained.

Quizzed as to what Granarolo believed EU consumers wanted in cheese – given the strong performance of regional cheeses in markets such as the UK – the spokeswoman said:

“Some Italian cheeses are very well known at worldwide level, they come from DOP origins (protection of denomination linked to specific areas), and are related to regions where specific environment guarantee certain characteristics.”

She added: “We believe that these cheeses, such as parmigiano reggiano and grana padano can meet preferences of the European consumers together with ‘fresco’ products such as mozzarella.

Strategic importance

Granarolo president Gianpiero Calzolari said earlier this month that the Lat Bri acquisition was strategically important for his company, since Granarolo became Italy’s second-largest concern within the country’s dairy sector as a result.

“Abroad, we will develop synergies bringing products made in Italy for European consumers, especially in Northern Europe where Lat Bri has long had a widespread market presence, " ​he added.

Granarolo Group employs around 2,000 staff. It comprises a milk producers consortium, Granlatte, and a listed company Granarolo, which processes and sells finished dairy products.

Granarolo has 5 manufacturing sites in Italy, and is the largest fresh milk producer in the country. With the acquisition of Yomo in 2004, it became the largest Italian yogurt manufacturer.

Related topics: Manufacturers, Consolidation

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