ISTANBUL, TURKEY — Turkish flour miller Ulusoy Un has acquired an 85% stake in Italian pasta company Pastificio Mediterranea from Spain’s Cerealto Group as part of the company’s long-term growth strategy.
Ulusoy Un will pay Cerealto Group €5.3 million ($5.8 million) for its stake, according to the notice filed with the Public Disclosure Platform (KAP) in Turkey. The Moccagatta family, which founded the company in 1908, will remain involved in the company, contributing its expertise and legacy, Ulusoy Un said in its Nov. 4 announcement.
“We were impressed by the knowledge that Pastificio has built over more than 100 years,” said Eren Günhan Ulusoy, chairman of the board for Ulusoy Un. “We believe that our new strategic investment in the field of high-quality and value-added pasta production will strengthen Ulusoy Un’s growth steps and accelerate our new investments and future successes. With our group’s raw material supply capabilities and wide customer network in different geographies, we will contribute to Pastificio’s growth and further expand its geographical reach.”
Pastificio Mediterranea, which produces pasta in the Silvano d’Orba region of Italy, offers over 50 different sizes and shapes of pasta to international markets under various brands, primarily Moccagatta dal 1908. It also produces private label products.
Pastificio Mediterranea began producing pasta using traditional methods, moving to the region’s first automated pressing systems in 1936. In the 1950s and 1960s, the company’s products entered international markets with its Moccagatta branding. In 2003, to meet rising demand, the company shifted operations to a modern plant in Silvano d’Orba, where it continues production.
“We are excited to continue our journey with an important group that shares the values and goals of our company,” said Marco Ferraroni, general manager of Pastificio Mediterranea. “We are confident that together we will take our company to the next level.”
Zahit Çetin, chief executive officer of Ulusoy Un, said the investment in Pastificio Mediterranea is a milestone for the company’s growth strategy, starting in the pasta sector with a highly regarded producer.
“We are acquiring a company with a deep-rooted brand heritage,” Çetin said. “We believe that we will create strong synergies with our vertical growth strategy in sectors where wheat, the basic food source of humanity, is used as a raw material.”
With a total wheat processing capacity of 2,934 tonnes per day from three production facilities, Istanbul-based Ulusoy Un is the Turkey’s largest flour producer, shipping to 81 provinces in Turkey and more than 90 countries, according to the company.
