Melegatti passes to Balconi (Valeo Foods), international growth target

Melegatti 1894 Spa, a historic brand in the Verona festivity confectionery district known for the production of Pandoro, Panettone and croissants, enters the international Valeo Foods group, a European leader in the food sector that belongs to Bain capital and that in May 2024 had taken over Dal Colle.

The transaction was realised through the sale of the company by Melegatti 1984 to Balconi, a confectionery company from Lombardy that is already part of the Valeo Foods Group, one of Europe's leading manufacturers of quality sweets, snacks and bakery products. It is a new chapter after the troubled years of Melegatti's bankruptcy, later taken over by the Spezzapria family, entrepreneurs for five generations in various sectors. Roberto Spezzapria, president of Melegatti, explains: 'After the successful relaunch of the historic brand on the Italian market, we entrust the future to the experience and expertise of the Valeo Foods Group. We are confident that Balconi will be able to guide the brand towards a new phase of international growth, further strengthening its value and honouring its deep roots in Italian culture'.

Melegatti - which already exports more than 20% of its product - will remain strongly rooted in Verona, where production activities will continue in the two factories of San Giovanni Lupatoto and San Martino Buon Albergo (for continuous products). A transition that entirely safeguards employment: 'The entire operation was shared with the trade union and the Rsu,' explains Massimiliano Zanaglia of the Cisl, the union most represented in the company. 'It will be a seamless transition and includes existing contracts, machinery and the entire workforce: the key role is that of production capacity, which will be merged into a larger bakery products hub. There are 73 left in the company at the two sites (but only for Christmas leavened goods, they become 160 with seasonal workers). It is precisely the Melegatti employees who have been in the front line since the beginning of the crisis to save the company, safeguarding even the precious sourdough starter that is the basis of the recipe when there were pickets at the entrance to the factory. It was 2018. Founded in Verona in 1894 by Domenico Melegatti - inventor of the original Pandoro - the company has maintained a strong link with the territory over time, promoting artisan products, traditional production processes and high quality ingredients.

Now the goal with Valeo Foods is to further strengthen its production capacity, expand its range and ensure even more structured growth in international markets. The Valeo Foods group has over 90 brands in its portfolio and a presence in more than 100 countries. "We are thrilled to welcome Melegatti," said Ronald Kers, Group CEO, "This acquisition represents a significant strategic step in expanding our portfolio of high-quality, well-known brands, and underscores our commitment to excellence, innovation and long-term value creation. By integrating Melegatti into our business, we strengthen our presence in SW-Europe and open new avenues for growth within our global network - while bringing authentic, high-quality Italian baked goods to consumers around the world."