Following approval by the Canadian Competition Bureau, Ebro Foods (www.ebrofoods.es) and Canada Bread Company, Ltd., a subsidiary of Maple Leaf Foods Inc., have today completed the sale of the Olivieri Foods (www.olivieri.ca) fresh pasta and sauce business to Ebro Foods.
With a workforce of approximately 375 employees, Olivieri is leader in the fresh pasta and sauce sector in Canada, posting a gross turnover of CAD$105.5 million last year.
The purchase of Olivieri Foods, valued at CAD$120 million, is an important strategic operation for Ebro, which enters the Canadian fresh pasta and sauce segment through its leading brand, thus consolidating its position as No. 1 in all the categories in which the group operates. Ebro already has a strong presence in Canada through Catelli Foods, the subsidiary operating in the dry pasta sector under the Catelli® brand, and the rice sector under Minute®.
The consolidation of Olivieri will also produce numerous additional synergies with our European fresh pasta business headed by Lustucru Frais, in commercial, industrial and marketing aspects.