Mutti completes acquisition of Copador

Italian premium packaged tomato producer Mutti has completed the acquisition of Copador, a leading tomato-processing consortium based in Collecchio (Parma), through its subsidiary Pomodoro 43044.

The acquisition took place through an auction called by the Court of Parma which was won by Mutti with a €25 million bid. Following the announcement that Copador was going into receivership, in the early summer of 2017 Mutti leased all its business operations while providing assurances that it would continue production (210,682 tonnes in 2017) and acquire the consortium at the end of the season. The acquisition is part of a broader expansion strategy aimed at increasing production capacity and exploiting economies of scale.

Mutti now has a 28% market share by value and is set to close the current year with a turnover of around €300 million. With an export share of 33%, it sells its products in 83 countries and is seeing double-digit annual export growth, most notably in European markets such as France, Scandinavia, Belgium and Germany.