Granarolo, a prominent dairy company headquartered in Italy, has unveiled a comprehensive strategic plan outlining its objectives for the period from 2024 to 2027.
The announcement highlighted that the endeavor will encompass a €300 million ($316.8 million) investment, primarily directed towards projects focused on expansion to attain a substantial upsurge in revenue throughout the specified plan duration.
This action comes in the wake of the Bologna-headquartered company successfully raising €160 million by selling a portion of its business earlier this year.
Granarolo Full Plan:
Granarolo president Gianpiero Calzolari said, “The objectives that the company intends to achieve through the implementation of the new plan are to consolidate and increase its presence on the national market through digital transformation and innovation of the product supply chain, strengthen its positioning at an international level, and innovate to anticipate new solutions of product in a continuously evolving market.”
The company stated that the plan encompasses “significant organic growth targets as well as exceptional operations designed to bolster the group’s competitive position both within Italy and on the international stage.”
When pressed for further information regarding its plans, a spokesperson from Granarolo indicated that their forthcoming innovations will involve the creation of functional products designed to have an extended shelf life.
Additionally, the spokesperson mentioned that their primary international growth targets will be the European markets and the United States. However, they refrained from disclosing specific details at this stage regarding heightened turnover goals or any potential involvement in merger and acquisition activities as part of their strategy.
In the stake sale conducted by the group in late March, €100 million was invested by the Italian state lender, Cassa Depositi e Prestiti (CDP), as part of the €40 billion Patrimonio Rilancio national strategic fund, which is funded by the country’s Treasury.
It secured an approximate 15% ownership interest in the milk and cheese producer.
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Agricultural labor pension agency Enpaia and the controlling shareholder, Granlatte, a farmers’ cooperative, each contributed €30 million.
Granarolo, known for its production of pasta and deli meats, maintains 14 production facilities within Italy and an additional nine in various locations including France, the UK, Brazil, Germany, New Zealand, and the US. The company works in collaboration with over 600 milk-producing farmers and delivers its products through an extensive network of 50,000 sales outlets.
