The Katjes International GmbH & Co. KG Group continues to make acquisitions in Italy and acquires the operating business of Paluani S.p.A., based in Verona. As of today, the Italian subsidiary of Katjes International, Sperlari S.r.l., is taking over the ongoing operations of Paluani, which specializes in Christmas and Easter, thus strengthening its own position as market leader in the area of seasonal articles.
Until the initiation of insolvency proceedings in October 2021, Paluani was Italy's fourth-largest panettone manufacturer, with sales of around EUR 40 million in fiscal 2021 at last count.
"We are pleased to be able to acquire a brand like Paluani, which is rich in tradition and well-known throughout Italy, in order to further expand our leading market position in the Christmas season," said Tobias Bachmüller, managing partner of Katjes International.
Sperlari was advised on the acquisition by PWC Italia and law firm Chiomenti Studio Legale. The acquisition is being financed from the Group's existing cash.