Another piece of made in Italy goes away. It won't be made of buckwheat, but Garofalo pasta is about to be added to the list of Italian brands that pass under a foreign flag: in this case, the group from Campania has announced the entry into the capital with a 52% stake of the Spanish of Ebro, a multinational which operates in the rice, pasta and condiments sectors, listed on the Madrid Stock Exchange.
The total investment is around 62 million euros and confirms the passion of the Iberians for the "first courses" of our land: a year ago the Spanish group had also taken over 25% of Riso Scotti di Pavia for 18 million euros with a overall valuation of 72 million, even if in that case the Italian family had maintained the majority with 75% of the capital.
And while the made in Italy is losing pieces, the Spanish group is significantly increasing its presence on the international market: last year it achieved 1,95 billion in revenues with an EBITDA down to 282 million euros, and now it will also count on Pasta Garofalo, since 1997 under the control of the Menna family, which closed 2013 with over 134 million in revenues.
