Clessidra is to sell Acetum, a manufacturer and distributor of Balsamic Vinegar of Modena, a PGI-certified specialty vinegar, to Associated British Foods (ABF).
Clessidra acquired an 80 per cent stake in Acetum in 2015 with the remaining 20 per cent retained by the founding shareholders, Cesare Mazzetti and Marco Bombarda. During the investment period, Clessidra and the other shareholders have made significant investments to strengthen the management structure and to support the product offering.
Matteo Ricatti, Managing Director at Clessidra, says: “We are delighted to have reached this agreement. We also feel privileged to have accompanied Acetum in its transformation from an entrepreneurial to a managerial organisation. The acquisition by ABF marks a new era for the company.”
Mario Fera, CEO of Clessidra, says: “The Acetum transaction is a clear example of how Clessidra can add value to its portfolio companies. We privately sourced the acquisition of Acetum, supported the growth of the company and further accelerated its development.”
