Italian Frozen Food Holding – a business venture set up by Mandarin Capital Partners – has recently acquired Alcass, a company known mostly for its Amica Natura branded products. The holding was assisted by advisor Vitale & Co. in the transaction.
The Italian Frozen Food Holding, was created by Mandarin in 2018, bringing together two well-established companies in the sector: Appetais, a Genoese company which has been operating for over 20 years and specializes in frozen ready meals, and Friulian AR, a joint venture between the same Appetais and Roncandian di Meduno, which produces pizzas, focaccia, farniate, and other gluten-free products.
This is concrete project of aggregation that will allow innovative Italian food companies to develop expansion projects with an overall vision and with a particular overseas interest, where Alcass has also been exporting for a long time.
“The project seemed very progressive, and close to our ideas,” said Renato Bonaglia , who will also play the role of CEO in the group’s holding company, together with Francesco Palau (Appetais) and Dario Roncadin (Roncadin).
Alcass was established in 1987 in Bedizzole in the heart of the Brescia countryside. At the beginning of the 2000s it began to develop a range of vegetable-based products crafted with plant proteins (mainly soy and legumes). In 2005 it launched the Amica Natura brand which has become one of the most important food distribution chains in Italy and abroad, as well as in catering and foodservice, according to the report.
To date, the company is said to have over 40 employees and operates in the industrial site of Bedizzole, which boasts an area of over 8,000 sqm.
The acquisition is part of Mandarin’s plan of incorporating other businesses into the holding company with the aim of reaching a turnover of EUR100m and an export share of 50%.