Antico Forno della Romagna accelerates development in the Italian frozen bakery market through the acquisition of Grano Vivo

The acquisition of Grano Vivo by Antico Forno della Romagna further strengthens its competitive position in the sandwich market

Forlì (MI), October 24^th, 2024 – Antico Forno della Romagna (AFR), the Italian leader in the frozen bakery sector for the large-scale retail trade and Ho.Re.Ca. channels, with the Bassini1963 and Glaxi Pane brands, announces the acquisition of 100% of the shares of Grano Vivo, a reference player in high value added frozen and long-life bakery products, including bread for toasts and sandwiches. This operation marks a strategic step for AFR, expanding its product range in the long-life products segment and strengthening its presence in the market. AFR is backed by its majority shareholders, Orienta Partners and Fondo Agroalimentare Italiano I.

A strategic partnership to grow together

The acquisition of Grano Vivo is the result of a complementary and shared vision, enabling AFR to expand its product portfolio into a new market segment with high growth potential. Grano Vivo is recognized for the quality and innovation of its long-life bakery products, characteristics that match the excellence that has always distinguished AFR's frozen products.

Ignazio and Marta Omodeo Zorini, previous owners of Grano Vivo, will continue to work with AFR to support a new phase of development, ensuring continuity and a smooth transition.

Future plans: expansion, innovation and focus on people

As part of AFR, Grano Vivo intends to expand its production capacity and recruit new resources. The project also focuses on strengthening the involvement of talent and expertise already existing within the company. This will significantly contribute to the creation of value in the AFR ecosystem.

Massimiliano Bassi, CEO of Antico Forno della Romagna, declared: “The acquisition of Grano Vivo represents a great opportunity for AFR. Their experience in long-life products, combined with our expertise in the frozen food sector, will create a winning combination. We are excited to work with Ignazio, Marta and the entire Grano Vivo team to develop a sustainable and innovative growth path together.”

Ignazio Omodeo Zorini, CEO of Grano Vivo, declared: “After identifying a consolidation trend in our industry, we evaluated several strategic options. A partnership with AFR emerged as the most promising choice to achieve our goals of growth and competitiveness.”

Denis Boldrin, currently Research and Development Director of AFR, will oversee Grano Vivo and manage the integration process, aiming to foster the development of synergies and continuous innovation.

Shared innovation and development

With the acquisition of Grano Vivo, AFR will pursue a path of growth based on innovation and quality. AFR will close 2024 turnover at around €40 million. Through its resources and expertise, AFR will further expand its production capacity and offer the market increasingly innovative and competitive products.

Francesco Orazi, Managing Director of Fondo Agroalimentare Italiano I, declared: "This acquisition is an important step for AFR, both from a commercial and a production point of view. We have brought together two successful operators – with highly complementary target markets and development possibilities – and we see strong potential going forward.”

Augusto Balestra, Chairman of Orienta Partners, declared: "We are pleased to further support the development of AFR through this acquisition, which consolidates its competitive position in the sandwich segment. Working in synergy with Fondo Agroalimentare Italiano I, we will continue to seize opportunities that arise in the market, further contributing to AFR’s growth trajectory.”