Menchetti Panificio Acquisition

Aksìa Capital V, a fund managed by Aksìa Group SGR, announces the acquisition-through its investee Valsa Group-of Menchetti Food, a vehicle within which the business unit dedicated to the frozen products of Panificio Menchetti, an Italian company specializing in the production and marketing of top-quality pizza, pinsa and focaccia for the Retail and Food Service sectors, has been contributed.

Menchetti Food represents the fourth add-on operation finalized by the Aksìa Capital V. Thanks to the buy-and-build strategy adopted, the fund has progressively integrated realities of excellence with complementary businesses and, by exploiting commercial and production synergies, has created Valsa Group, an international leader in the pizza, pinsa and fresh, frozen and room-temperature snacks segment, with specialization in the Retail and Food Service channels. The Group, a benchmark in high-quality Made in Italy productions, operates through the brands Valpizza, La Pizza+1, Megic Pizza, Ghiottelli, Forno Ludovico and Tuscanya Bakery.

Founded in 1948 and run for three generations by the Menchetti family, Panificio Menchetti is an industrial concern based in Marciano della Chiana (Arezzo) that combines tradition and craftsmanship with the highest quality standards to create fresh and frozen baked goods. In 2022, the business branch dedicated to frozen products recorded a turnover of more than 11 million euros.

With the acquisition of Menchetti Food, Valsa Group expands its product range, enriching it with top-quality frozen white pizza, focaccia and pinsa bases, strengthening its foothold in the strategic frozen food asset. In addition, by exploiting industrial synergies with Group companies, Valsa will further consolidate its distinctive positioning nationally and internationally.

The development plan designed by Aksìa includes the gradual internationalization of Menchetti Food's products, with the aim of further expanding the foreign market share by means of the Valsa Group's strong sales network. In light of the important prospects and opportunities for growth alongside Aksìa, the Menchetti family has decided to reinvest a qualified and strategic minority stake in the operation, maintaining the operational management of the business branch dedicated to frozen products.

Corrado and Marco Menchetti, managing directors of Menchetti Food commented on the transaction as follows, "This transaction is a significant growth opportunity for us, allowing us to continue the development project that we have been pursuing for several years and seize new market opportunities. We are confident that the contribution of Valsa Group will be able to further enhance the business line dedicated to frozen products, allowing the company to consolidate and develop an increasingly solid presence in Italy, but especially abroad."

"We are very happy to welcome Menchetti Food and the Menchetti family to our Group," said Marco Setti, CEO of Valsa Group. "Their entry into the Group is strategic for us. On the one hand, expanding our product range allows us to strengthen our distinctive positioning in terms of offerings. On the other, it allows us to consolidate our presence in the sector of top-quality frozen products, a strategic asset on which we will increasingly focus, including through new future investments aimed at further increasing production capacity. We are confident that together with Corrado and Marco Menchetti we can further enhance the company's success story."

Marco Rayneri, Managing Partner of Aksìa Group added, "Panificio Menchetti has a long path of growth behind it, which has led it over the years to become from a local family-owned business to a true industrial reality with a solid position in the Italian market. We will work side by side with the Menchetti family to facilitate the process of integrating Menchetti Food with the other realities of the Group. Our goal is to support the company's international expansion, leveraging Valsa Group's foreign positioning."