Lantmännen to snap up Italy’s Panificio San Francesco

Core Insights - Lantmännen has acquired Italian frozen bread manufacturer Panificio San Francesco through its subsidiary Lantmännen Unibake, indicating a strategic move to strengthen its position in the European bakery market [1][4] - The acquisition is expected to provide commercial and innovation opportunities post-transaction completion [2][4] - Panificio San Francesco, established in 2006, specializes in pre-baked and frozen bread products and operates an industrial plant with an annual capacity of 26,000 tons [2][3] Company Strategy - Lantmännen aims to reinforce its market position through strategic acquisitions in attractive markets, as stated by the group president and CEO Magnus Kagevik [3][4] - The acquisition aligns with Lantmännen's ambition for long-term growth and supports its expansion strategy in the European bakery sector [4][5] - The company previously acquired Boboli Benelux, indicating a consistent strategy of growth through acquisitions in the bakery industry [5] Operational Details - Panificio San Francesco employs 80 people and has two production lines located in Codevilla, south of Milan [3] - Lantmännen Unibake's products are distributed in over 60 markets globally, with notable brands including Schulstad, Pastridor, and Hatting [6] - In addition to acquisitions, Lantmännen has invested approximately Skr700 million (around $73 million) in a new production facility in Örebro, Sweden, to bolster its bread business [6]