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Barilla Snaps up Canada Dry Pasta Firm Catelli for $130 mln

MILAN, Feb 1 (Reuters) - Italy’s Barilla has finalised a deal to buy dry pasta firm Catelli from Spain’s Ebro Foods in a deal worth around 107 million euros ($130 million), the two groups said on Monday.

For the family-owned company this is the second acquisition in less than a month, after it announced a deal to purchase a majority stake in Britain’s Pasta Evangelists.

With the latest transaction, Barilla will get three brands of Catelli and a production plant in Montreal, increasing the Italian group’s exposure to North America.

“Given the synergies between our business strategies, commitments and values, Catelli dry pasta is a natural fit for the expansion of our business,” Barilla Chief Executive Claudio Colzani said in a statement.

The world’s biggest pasta maker also said it planned to roll out 1 billion euro investments in its home-country between 2020 and 2024.

The money will fund several different projects including improvements of Barilla’s existing pasta production sites and acquisitions. Last year, the group finalised the purchase of a pasta plant in the northeast of Italy.

($1 = 0.8272 euros)

(Reporting by Francesca Landini, editing by Louise Heavens)

Source: Reuters

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