Barilla there are two fundamental pillars: being a family business and being Italian. But the Italian pasta giant, which never wanted to go public, has developed in recent weeks a new corporate structure that will come to life next year, with which it wants to be even more effective on foreign markets. The heart and head of the company will remain at Parma, but the reorganization plan hinges on a Dutch holding company, the newly established Barilla International BV, based in Amsterdam, as reported by the Corriere this morning.
CEO Di Tondo: we need a cultural change
“We have the ambition to be an increasingly global food company,” explains the CEO of Barilla, Gianluca di tondo, "maintaining two fundamental pillars: being afamily business and be Italian”. For this reason, he continues, “we need a cultural change and we want to accelerate change along three lines: develop a new organizational model that allows us to be more effective on foreign markets; strengthen our Italian DNA by continuing to invest in Italy also through a new R&D center; create a development hub dedicated to international growth for all our categories."
Control of the entire capital goes to the Dutch safe
After a complex chain of mergers and splits, the safe of the Netherlands will end up controlling theentire capital of Barilla G. e R. Fratelli, an Italian joint-stock company under which most of the foreign subsidiaries will merge, until now headed by the London subsidiary, where the group's digital hub is still based. Barilla International B.V instead it will become the center for Barilla's development on foreign markets and on new lines such as bakery products.
Up to 150 people will arrive in Amsterdam
Approximately 50 people will initially be assigned to the Netherlands. In the future, the local workforce aims to grow to 150 people, mostly belonging to the marketing, finance and legal divisions, partly coming from Parma, partly hired by taking advantage of Amsterdam's ability to attract managers from all over the world.
A large number of Italian companies have moved their headquarters to the Netherlands, also due to more streamlined corporate law. Campari, Mediaset and Ferrari have already moved, which together are worth 22% of the total capitalization of the Italian Stock Exchange and 27% of the main Ftse Mib index. Brembo also recently announced its intention to move to Amsterdam.
At the top Barilla Holding, with the fourth generation of the family
But it will remain at the top of the pyramid Barilla Holding, the safe of Parma which is headed by the fourth generation of the Barilla family, which will control 85% of the Dutch Barilla International (the remaining 15% will belong to Gafina, vehicle of the Swiss Anda-Bührle family, shareholder of the Zurich bank Ihag). The Emilian holding company will draw up the consolidated financial statements of the group and above all will dictate its strategic lines, taking all the decisions relevant for the future of the group: large contracts, possible divestments and acquisitions.
Investments in Italy of around 500 million over the next 5 years
To complete these projects, Barilla has planned for the next ones five years investments for one billion euros. About half funds will be allocated to Italy, a market worth 37% of the group's 4,7 billion in revenues, has 15 factories and over 4000 direct employees. In the multinational's country of origin, however, the growth margins for the consumption of pasta, sauces and baked goods are now limited. Hence the company's desire to accelerate expansion abroad. A significant portion of the planned expenditure will however benefit Parma, in whose offices approximately 1000 people work. The building will be built in the Emilian capital by 2025 new research and development center which will drive innovation globally, employ around 200 people and require 16 million in investment.
