Associated British Foods, a food multinational listed on the London Stock Exchange, has acquired di Acetum Spa, the main Italian producer of Balsamic Vinegar of Modena IGP (Protected Geographical Indication). The English group recorded sales of over 13,4 billion pounds, relying on 130 employees in 50 different countries.
Cesare Mazzetti will remain president, as will Marco Bombarda, business director. Acetum brand names include Mazzetti, leading brand in Germany and Australia, vinegar e Fini.
Acetum also produces balsamic glazes, wine and apple vinegar and made in 2016 sales of 103 million in over 60 countries. The completion of the transaction is being examined by the Antitrust authorities in Germany and Austria
George Weston, to Abf, said: "It is a wonderful opportunity to become the guardians of an Italian product with such a great reputation, we have ambitious growth plans all over the world".
Mazzetti added: “The operation confirms that companies with PGI are highly attractive to international groups. Abf has
a great reputation for the ability to develop family businesses”.
In Italy, Associated British Food employs 2.500 people through activities conducted with tea Twinings, with shops Primark and with AB Mauri (leading company dedicated to the bakery industry, supplying artisan and industrial bakeries).
