date:Jun 05, 2014
Spanish food group Ebro Foods announced earlier today that it had agreed to buy a majority 52% stake in Italian pasta company Pastificio Lucio Garofalo for 62.5 million.
The unlisted Italian company, founded in 1789, is the owner of high-end dried pasta brands Garofalo, Santa Lucia and Russo de Cicciano. Ebro Foods intends to help international expansion for the brands, the Spanish company said in a statement.
Ebro Foods is active in the rice, pasta, and condiment sectors, and quoted on the M