Italy’s Government-sponsored Fondo Strategico Italiano is interested at investing in Ponti spa, a world leader in the production of vinegar, pickles, vegetable preserves in oil, condiments and ready-make sauces, since 1867.
The news was told yesterday by Ponti’s chairman himself, Cesare Ponti, who controls the company together with his brother Franco and the sons, speaking at margin of the annual meeting of Aiipa (the Italian Association of food products makers).
“The Fund contacted us”, Mr. Ponti said the press, telling that “a meeting is to be scheduled by the end of July” and the his company “is interested in exploring solutions in order to strenghten its internationalization process with particular attention to distribution channels”.
Mr. ponti added that the family already decided to open its shareholders capital to a third party back in 1986 when they sold a stake to Star, a leading condiments and ready sauces. That stake eas then bought back by the family in 2002. “We do not have any foreclosure to a private equity fund to enter our equity, but every opening has to be seen from the international growth point of view”, Mr. Ponti added.
Speaking at the same event yesterday, Fondo Strategico’s ceo Maurizio Tamagnini said again that the Fund is looking at more investment opportunities in the food&beverage sector after having invested in Inalca last october (see a previous post by BeBeez).
Headquartered in Ghemme (Novara, Northern Italy), Ponti spa reached 116 million euros in revenues in 2014 (from 114 in 2013) with an ebitda margin of 11% and a net profit of 5%.
“The company is not aiming at listing on a Stock Exchange”, finally said Mr. Ponti.
Esclusa infine ogni ipotesi di quotazione. “La nostra azienda non mira alla Borsa”, ha concluso Ponti.