Lantmännen Unibake to Acquire Italian Frozen Bread Producer

Lantmännen Unibake, part of the Swedish agricultural cooperative Lantmännen, has entered into an agreement to acquire Panificio San Francesco S.p.A., a producer of frozen bread based in Italy. The acquisition is intended to strengthen Lantmännen Unibake's position in the European bakery market.

Panificio San Francesco, established in 2006, operates one industrial bakery in Codevilla, Italy, approximately 75 kilometers south of Milan. The company supplies frozen bread products to retail customers within the Italian bake-off segment.

"We continue to strengthen and expand Lantmännen’s existing businesses through strategic acquisitions in attractive markets," said Magnus Kagevik, Group President and CEO of Lantmännen. "The agreement in Italy reflects our ambition to build a strong platform for long-term growth and supports our goal of further strengthening our position in the European bakery market."

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. Until then, there will be no changes for employees, customers, or partners.