Ebro buys 52% of italian company Pastificio Lucio Garofalo, S.p.A.

Madrid, 4 June 2014. Ebro Foods has reached a binding agreement for the purchase of a majority shareholding (52%) in the Italian company Pastificio Lucio Garofalo, S.p.A. for a sum amounting to € 62.5 million.
This Italian company owns the brands Garofalo, Santa Lucia and Russo de Cicciano, inter alia, with a major position in the dry pasta premium segment in Italy and other countries worldwide, with gross sales of €134 million in 2013.
With this acquisition Ebro is showing its confidence in the potential of the Italian pasta of the highest quality; the production and consumption of the so-called “pasta di Gragnano” is part of the Italian gastronomic tradition and culture. The partnership with the leading player Garofalo will allow Ebro to cooperate in the development and international promotion in the premium segment.
It is foreseen to close the transaction by the end of June, at which time we will keep you duly informed.
About Pasta Garofalo
Pastificio Lucio Garofalo is considered one of the best pasta producers in the world, not only for its vanguard technology but also for its use of the know-how of generations of artisan pasta makers in its product portfolio. Its history goes back more than 100 years, when it was granted an exclusive licence by Royal Decree to install a pasta plant in Gragnano (Napoles), considered the cradle of pasta thanks to its privileged location between the mountain and the sea, which favours the ideal climate for pasta production and subsequent drying.
Pasta Garofalo is a business with a glorious history dating back more than a hundred years. The Menna family, who had held shares in the company since 1952, took the full control of the company in 1997. Since then, the company focused on developing its premium quality Garofalo brand, as a unique selling proposal from Gragnano making it available in the whole Italy and in finest shops around the world. Under the Garofalo signature brand, the company has recorded exponential growth being the fastest growing pasta brand for the last decade in Italy, in a highly competitive market. The company’s gross revenues grew from €30 million for 2002 to over €134 million for 2013.

About Ebro Foods
Ebro (www.ebrofoods.es) is the leading Group in the Spanish food sector in terms of turnover, profit, market capitalisation and international presence. Ebro is world leader in the rice sector and the second group in the international pasta sector. It has leading brands in each of these sectors, including: Panzani®, Ronzoni®, Skinner®, Healthy Harvest®, American Beauty®, San Giorgio®, Catelli®, Lancia®, No Yolks®, Wacky Mac® and Olivieri® in pastas and sauces; and Mahatma®, Success®, Carolina®, Minute Rice®, Lustucru Selection®, Taureau Ailé®, Oryza®, Bosto®, Reis-Fit®, Riceland®, Danrice®, Risella®, Abu Bint®, Blue Ribbon®, Adolphus®, Comet®, Lassie®, Saludaes®, SOS®, Brillante®, La Cigala®, Sundari® and La Fallera® in the rice sector.