FVS SGR has acquired a majority stake in Liking S.p.A., a leading Italian candy manufacturer, through its new 'Fondo Sviluppo PMI 2', aiming to support its growth and expansion strategies.

Information on the Target

Liking S.p.A., based in San Martino di Lupari (Padova), specializes in the production of hard and filled candies, toffee, tablets, and organic candies. With a history dating back to 1910 when it was founded by Giuseppe Corno, the company has evolved from a small artisan workshop to a significant industrial player. Currently, Liking operates from a 16,000 square meter facility and employs approximately 40 staff members. The company boasts a production capacity that allows it to package up to 22 tons of hard and filled candies, 1 ton of tablets, and more than 8 tons of toffee daily. Liking has successfully established a robust sales network in Italy, and its exports account for over 30% of its total revenue.

In 2020, Liking recorded revenues of €10 million with a margin of 20%, while maintaining a strong net financial position. Despite challenges presented by the COVID-19 pandemic, the company demonstrated resilience, achieving comparable results in 2021 with a positive second half of the year that offset initial downturns. The recent acquisition aims to bolster Liking's growth trajectory, enhancing its commercial operations and expanding its geographical presence.

Industry Overview in Italy

The Italian confectionery industry, particularly in the segment of hard and filled candies, has shown significant potential for growth. Traditional manufacturing practices combined with modern automation have positioned