Fresh pasta, Milo Spa is founded: target turnover of 45 million and growth abroad
New set-up for the Apulian company that already covers half of its production with exports
2' min read
2' min read
From Bitonto to Hanoi. Casa Milo, an Apulian company specialising in the production of fresh pasta, is renewing itself to face the challenges of the market, in view of possible financial transactions alternative to the traditional banking channel, such as crowdfunding or IPO.
Thirty years after its foundation, the company - selected among Forbes's one hundred Italian excellences - changed its name and share capital from Gramm srl to Gruppo Milo Spa and went from 300 thousand euros to one million. "We are registering a constant increase in turnover and this means that we need to structure ourselves differently," explains the ceo of the newly formed spa, Giuseppe Milo who, on the basis of the new company organisation, holds a 20% share of the share capital, equally divided among the five family partners (mother and children). "This transformation responds to the need for further growth and greater market appeal, offering greater reliability for all players in the supply chain, right up to the end customer," he concludes.
The objectives are outlined in detail: a 25% growth in turnover in 2024, which is expected to rise to EUR 45 million, and the conquest of Asian markets, Vietnam and South-East Asia above all;
Exports already represent a key share for the company, which, with 150 employees, exports its top products (fresh pasta, dry pasta and bakery products) from the Bari hubs of Palombaio and Palo del Colle to leading markets such as the UK, Germany, France and, above all, the USA, which absorb a substantial slice of the production of the family's three factories. In the first quarter of 2024, exports reached 52%.
To prepare itself for the leap, the group has for years been engaged in a process of renewal in the dry pasta, fresh pasta and egg pasta, bakery products and new organic range segments, as sales manager Marida Milo recounts. 'Our commitment,' she says, 'has been constant on several fronts: innovation of technologies and production methods, research into the best product components, staff training and respect for the environment.
