Orior buys pasta maker Pastificio Gaetarelli outright

Core Viewpoint - Swiss food group Orior has acquired full ownership of Italian fresh pasta manufacturer Pastificio Gaetarelli, strengthening its position in the premium fresh pasta segment and signaling focused growth [1][2]. Group 1: Acquisition Details - Orior acquired the final 81% shareholding of Pastificio Gaetarelli for a consideration in the "mid single-digit millions" [1]. - Pastificio Gaetarelli, based in Salò, has been a close operational partner of Orior's pasta-focused unit, Pastinella, for many years [2]. - The acquisition is described as a "logical and forward-looking next step" in the relationship between Orior and Gaetarelli [2]. Group 2: Operational Continuity - Gaetarelli will continue to operate as an independent company in Italy, maintaining its corporate identity and local roots [3]. - The business will be overseen by the Pastinella unit and will be part of Orior Food AG [3]. Group 3: Financial Impact - The acquisition is expected to contribute a low single-digit million amount in sales from European customers [3]. - Orior's net sales for the first half were down 2.9% at SFr304.9 million ($378.05 million), with EBIT down 55.2% to SFr4.1 million and net profit down 78.9% to SFr1.3 million [4]. - Net debt was reduced to SFr173.3 million from SFr181.4 million, but leverage remained high at 5.2x adjusted EBITDA, exceeding the target of below 2.5x [5]. Group 4: Future Projections - Orior expects net sales in 2025 to reach SFr623 million, reflecting a 1.5% decline on an organic basis, which is better than the previously forecasted 2-4% decline [6]. - The company is reviewing all strategic options for its Culinor Food Group assets, with the review expected to take a few more months [6].