Granarolo detects 25% of European Foods, strengthening its presence on the markets of the Far East and, in particular, in New Zealand. European Foods, whose share was acquired through Granarolo International, is, in fact, one of the main importers and distributors of Italian food products in New Zealand, with a turnover exceeding 6 million euros.
The agreement between the parties, as disclosed by the Bologna-based group, provides for the option for Granarolo to go up to 51% within 12-18 months. Thanks to this operation, the number of countries reached by the group rises to 56, which focuses strongly on the Italian cheese market in New Zealand and Oceania, where the business is worth over 33 million, 50% of which for Parmigiano Reggiano and Grana Padano.
The operation fits perfectly into the 2012-2016 strategic plan of the Bologna-based group, which had the stated objective of embarking on an internationalization process that could broaden the company's range of action, bringing it to total 40% of its revenues on the foreign market.
The president of Granarolo is satisfied Gianpiero Calzolari: “New Zealand is a very interesting country, a market in solid growth with consumers who have high spending power and a preference for quality Made in Italy products. The operation will also allow us to expand our range of action to Australia as well as to the countries of South-East Asia with which New Zealand has free trade agreements".
