Lantmännen Unibake to Acquire Italian Frozen Bread Producer

Lantmännen Unibake has signed an agreement to acquire Panificio San Francesco S.p.A., an Italian producer of frozen bread for the retail sector. The transaction marks a significant expansion for Lantmännen's bakery division into the Italian market.

Panificio San Francesco operates a bakery in Codevilla, approximately 75 km south of Milan. Founded in 2006, the company is recognized for its products and its strong regional presence within the Italian bake-off segment. It is currently owned by private equity firm ITAGO and minority shareholders.

According to Lantmännen Group President and CEO Magnus Kagevik, the acquisition aligns with the company's strategy of strengthening its businesses through targeted acquisitions in attractive markets. This move supports the goal of building a solid platform for long-term growth and enhancing its position in the broader European bakery market.

The partnership is expected to leverage the combined strengths of Panificio San Francesco's retail network and product expertise with Unibake's existing capabilities and portfolio, potentially unlocking new commercial and innovation opportunities. Lantmännen Unibake sees this as a key step in actively participating in the evolving dynamics of the European bakery sector.

The transaction is subject to customary closing conditions and regulatory approvals. Both companies will continue to operate independently until the closing, which is expected at a later date.