Latteria Soresina Purchases Italian Gorgonzola Manufacturer Fratelli Oioli
- Jan. 17, 2023
- FMCG HORECA BUSINESS
Italian dairy cooperative Latteria Soresina aims to purchase gorgonzola cheese manufacturer Fratelli Oioli Dairy.
The co-op, situated in Soresina in the province of Cremona in Italy’s Lombardy region, said in a statement that intends to finalize the acquisition in the “next few days”.
Latteria Soresina is purchasing the Cavaglietto-based firm from the Oioli brother proprietors, who will continue with the company, for an unknown fee.
The merged enterprises will have a turnover of more than EUR500m (US$540.8m). Latteria Soresina finished 2022 with EUR494m, a rise of 19% over the previous year. Fratelli Oioli produced EUR14m in sales, up 32%.
Upon completion of the transaction, Latteria Soresina will add a third cheese of Italian protected designation of origin (DOP) to its portfolio, which presently comprises grana padano and parmigiano reggiano. The firm also makes provolone cheese, butter, milk, cream and yogurt.
Michele Falzetta, the general manager of Latteria Soresina, said the deal “is a strategic operation aimed at introducing a significant DOP such as gorgonzola, a cheese that lends itself to being created with the milk of our members”.
He added: “The merger between Latteria Soresina and the expertise of Oioli will thus enable us to give the market a product of absolute perfection backed by a powerful corporate structure and supply chain, opening up new potential both in Italy but above all towards exports.”
Maurizio Oioli, one of the brothers whose father Giovanni founded the business in 1992, said: “We believe that becoming part of a large and solid group such as Latteria Soresina will allow the company to continue to grow on the market as it has done in recent years in which it has managed to safely overcome both the problems of the pandemic and those of the energy crisis and availability of raw materials which, unfortunately in this period, are still heavily influencing the market.”