Italian F&B company invests in Australian fine foods
26 Sep 2017
Italy’s Inalca Food & Beverage (IF&B) has increased its majority stake in Australia’s Fresco Gourmet Pty Ltd (Fresco) and Itaus Pty Ltd (Itaus), to 100 per cent ownership.
Fresco and Itaus have been specialising in fine foods since 2003 from countries such as Italy, France, Spain, Greece and Holland. Between them, they service around 350 clients including leading distributors, hotels, restaurants and retailers.
IF&B is consolidating the two Australian entities as part of its global plan to tap into high growth of quality, imported European products, and to include new distribution subsidiaries in Brisbane and Melbourne.
Work is already underway at IF&B’s Sydney site in Alexandria, to open a new logistics and distribution platform that can store products at various temperatures. The site is expected to finish by late October.
The company will gradually increase its scale and products in the region and respond to greater demand from customers.
CEO and President of INALCA Food and Beverage (Cremonini Group) said that Australia is a friendly environment where to invest.
‘We have a very long term vision for our business in the country. This acquisition is only the prelude for further investments into new distribution platforms in other Aussie first tier cities and a ‘typical Italian smallgoods and cheeses’ production site. Our goal is to ensure a consistent and sustainable supply of fine imported food from Europe combined with a local sustainable production made in the most traditional way.’
IF&B is a subsidiary of Cremonini Group, a leading European beef producer, distributor and caterer with over 11,000 employees around the world and a reported turnover of €3.7 billion in 2016.