Fondo Italiano d’Investimento has acquired a 70% stake in Santangelo Group, enhancing its portfolio in the premium food sector.

Target Information

Fondo Italiano d’Investimento has acquired a 70% stake in Santangelo Group, an esteemed bakery based in Umbria, Italy, for approximately $34.6 million. This acquisition is facilitated through the Italian Agri&Food Fund (FIAF) and marks the fund's fifth transaction in less than two years. The Santangelo Group is renowned for its artisanal production of premium leavened goods, including a variety of branded and private-label breakfast offerings such as croissants, panettoni, and colombe. CEO Gianluigi Formichetti will retain a 30% stake in the company and continue to oversee operations.

Founded in 1968, Santangelo Group reported revenues of €32 million in 2024, more than doubling its 2020 figures, with over 25% of sales originating from exports. The company is now recognized as one of the top five producers of artisanal leavened products in Italy and holds the market leadership position in Central Italy. Currently, it operates a 5,000-square-meter facility in Terni with approximately 180 employees, and a major expansion is underway to enhance its growth strategy and support increased international sales of premium seasonal products.

Industry Overview in Italy

The Italian food industry, particularly the baked goods sector, has seen a surge in demand for high-quality and artisanal products. This trend aligns with the growing consumer preference for healthier and more authentic food options. In Italy,