The manufacturer confirmed the completion of the sale of its remaining 60% stake in Italpizza today (July 15), after first announcing its intention to sell in April.
Buyer of the pizza business Dreamfood is an investment firm controlled by Cristian Pederzini, the md of Italpizza.
Followed sale of Bakkavor’s 40% stake
This transaction followed the sale of Bakkavor’s 40% stake in Italpizza to Dreamfood in May last year.
Bakkavor ceo Agust Gudmundsson said the sale will allow the business to grow key markets. “The completion of this sale marks another important step for Bakkavor as we continue to focus on our core growth markets in the UK, US and Asia,” said Gudmundsson.
“This transaction also represents a great development opportunity for the Italpizza business as the company moves forward under the new ownership of Dreamfood.”