Lantmännen Unibake completes acquisition of Panificio San Francesco in Italy
The deal adds a Codevilla bakery with about 100 employees as a platform for growth in Italy's retail bake-off market
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Lantmännen Unibake has completed the previously announced acquisition of Panificio San Francesco S.p.A., an Italian producer of frozen bread for retail customers. The transaction was completed on 2 November 2026, providing Lantmännen Unibake with a platform for growth in the Italian retail bake-off market.
Founded in 2006, Panificio San Francesco S.p.A. operates an industrial bakery in Codevilla, approximately 75 kilometres south of Milan. The company has built a strong regional position within the Italian retail bake-off segment and supplies frozen bread products to retail customers. The bakery employs approximately 100 people.
“We continue to strengthen our businesses and drive Lantmännen’s growth through investments and acquisitions. The addition of Panificio San Francesco contributes to the development of our European bakery operations, supporting our ambition to build strong positions in attractive markets and create long- term value for Lantmännen,” says Magnus Kagevik, President and CEO of Lantmännen.
"With the acquisition of Panificio San Francesco, we strengthen our footprint in Italy with a well-established bakery, recognised expertise within retail bake-off and strong customer relationships. For customers, this means a stronger local partner with the capabilities of Lantmännen Unibake behind it, and an offering we are well positioned to keep developing for them,” says Carsten Lyngsø Thomsen, President of Lantmännen Unibake.
“ Over the past few years, Panificio San Francesco has grown significantly, establishing strong relationships with leading customers in the large-scale retail and discount sectors. These customers will continue to be served by their existing contacts and teams, while gradually benefiting from the broader capabilities and expertise of Lantmännen Unibake,” says Massimo Sanchioli, shareholder and CEO of Panificio San Francesco .
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