Valsoia — M&A Activity 2020

Dec 14, 2020

VALSOIA S.p.A. signed the final contract with De.Co INDUSTRIE S.C.P.A. for the acquisition of "Loriana", the second Brand in the Italian market of "Piadine ambiente"

THE AGREEMENT PROVIDES FOR THE PURCHASE OF THE COMPANY BRANCH WITH EFFECT FROM DECEMBER 31, 2020

Bologna, December 14, 2020

Valsoia S.p.A. (MTA: VLS), a leading company in the Italian market of health food products, listed on the MTA market managed by Borsa Italiana, today finalized the final contract with De.Co INDUSTRIE Soc. Coop. P.A. for the purchase of the Business Unit related to the second player in the Italian market of "Piadine ambiente", branded "LORIANA".

It should be noted, as for the press release published on November 23, 2020, that the Business Unit was transferred for an equivalent value of 12.98 million Euros in addition to the Net Working Capital serving the Business Unit, that the transaction was fully financed with resources already available to Valsoia S.p.A., and that it will be effective as of December 31, 2020.

The agreement provides that the production of "LORIANA piadina" will continue at De.Co Industrie in the current plants in Forlì, maintaining the existing supply chain, fully traced.

The acquisition of the "LORIANA" Branch, the second Brand by value in the "Piadine ambiente" market, is an operation of significant strategic value for Valsoia, and strengthens its Food Division together with the other Brands: "Santa Rosa" and "Diete.Tic".

The Chairmain Lorenzo Sassoli commented: "The acquisition of "Loriana piadina" strengthens the brands of our food division as well as prospectively enhancing a product of the Italian food tradition. The strategic value of the acquisition of Loriana should also be read in relation to its potential for development both in Italy and abroad. I am convinced that thanks to the distribution strength of Valsoia and the investments already planned to strengthen the positioning of the Loriana Brand, we will further accelerate our growth".

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For the transaction Valsoia was assisted by KPMG on the aspects of accounting dual diligence and by Studio Legale Rinaldi associati as legal advisor.

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Valsoia S.p.A. (www.valsoiaspa.com) founded in 1990, originally developed the Italian market of alternative vegetable products and is now a reference company in the health food market in Italy. The Valsoia Brand represents, for the consumer, innovation and attention to health through good, natural and healthy products. Since July 14, 2006, Valsoia S.p.A. is listed on the MTA market organized and managed by Borsa Italiana S.p.A. In 2011, Valsoia acquired Santa Rosa, a historical Brand in the segments of jams and tomato preserves with the Pomodorissimo Brand (the latter under license since 2018 to Società Cooperativa Conserve Italia). In 2017 it acquired the Diete.Tic Brand, Leader in the liquid segment of sugar alternatives. In addition, it is the historical distributor in Italy of the English Brand Weetabix, whole grain cereals for breakfast. Valsoia S.p.A. in the six-month period ended June 30, 2020 (source: Half-Year Financial Report as of June 30, 2020) achieved Sales Revenues of €43.4 million (+17.2% compared to the same period last year) and recorded a positive Net Financial Position of €25.8 million.

Per ulteriori informazioni

Valsoia S.p.A.

Nicola Mastacchi Tel. +39 051 6086800

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Martina Zuccherini Cell +39 339 43 45708