Granarolo completes two acquisitions

Granarolo is forging ahead with its external growth strategy as part of its 2021-2025 five-year business plan. The dairy giant has completed two acquisitions in the space of two weeks: PDO gorgonzola producer Mario Costa followed by US-based firm Calabro Cheese Corp.

Mario Costa has a history stretching back more than 100 years and a 2020 turnover of around €15 million. It processes approximately 20,000 tonnes of milk per year at its state-of-the-art, sustainable dairy facility just outside Novara. Exports account for 31% of its turnover, with the UK, Japan and the USA as the main markets.

The acquisition of Calabro Cheese in Connecticut is aimed at establishing a presence in the United States, which has long been a target for Granarolo. Founded in 1953 as a distributor of Italian dairy products by Joseph Calabro and his father Salvatore, the company now has a modern 5,000-square-metre production facility and a distribution platform serving the areas of New York, New England and New Jersey, as well as the southern and western regions of the United States.

“The consolidation of Granarolo in the United States is an important step in the group’s international growth policy,” said Gianpiero Calzolari, the company’s chairman. “Our goal is to replicate the strong performance achieved in other markets such as France, where we have grown significantly to reach a volume share of 18.5% of total Italian dairy exports. The United States will be our target country for 2022.”

Calabro Cheese generated a turnover of approximately US $25 million in 2020, a result in line with previous years’ levels despite the effects of the Covid-19 pandemic.

In April 2021, Granarolo completed a deal with Mulino Alimentare to acquire the remaining 60% of Mulino Formaggi, a Parma-based company specialising in the packaging and global distribution of Italian hard cheeses in which it already held a 40% stake, bringing its ownership to 100%..