Pernigotti Expands with Walcor Incorporation
Deal News | Jul 02, 2025 | Legal Community Italy
Pernigotti has successfully incorporated Walcor, creating a significant confectionery entity with an annual revenue of 70 million euros and employing over 340 people. The merger is backed by major stakeholders JP Morgan Asset Management and Invitalia, ensuring a robust export presence in nearly 50 countries. This strategic fusion aims to simplify corporate structure, widen commercial offerings, and enhance operational efficiency, maintaining high-quality production at its facilities in Novi Ligure and Pozzaglio. The legal aspects of the merger were managed internally by Pernigotti's Head of Legal, Eduardo Di Mauro, and CFO, Lodovico Cucinotta, supported by advisors from Studio Pirola Pennuto Zei and Studio Legale Maresca. As part of the integration, Francesco Pastore takes over as CEO, providing fresh leadership following the departure of Attilio Capuano, with Luigi Mastrobuono continuing as the president of the board.
Sectors
- Food & Beverage
- Private Equity
Geography
- Italy – The merger involves Italian companies Pernigotti and Walcor, with production facilities in Novi Ligure and Pozzaglio, Italy.
- United States – JP Morgan Asset Management, a key stakeholder in the merger, is based in the United States, highlighting international investment involvement.
Industry
- Food & Beverage – The merger between Pernigotti and Walcor consolidates their positions in the confectionery segment, part of the broader Food & Beverage industry.
- Private Equity – The involvement of JP Morgan Asset Management as a controlling entity points to the private equity sector's role in facilitating this strategic merger.
Financials
- 70 million euros – The projected annual revenue of the newly merged confectionery entity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pernigotti | Merging Company | Company | An Italian confectionery company expanding its operations by incorporating Walcor. |
| Walcor | Merged Company | Company | An Italian confectionery company that has been incorporated into Pernigotti. |
| JP Morgan Asset Management | Controlling Entity | Company | An American global financial services firm serving as one of the controlling entities for Pernigotti and Walcor. |
| Invitalia | Controlling Entity | Company | An Italian national agency for economic development involved in the merge. |
| Eduardo Di Mauro | Head of Legal | Person | Overseeing legal aspects of the merger at Pernigotti. |
| Lodovico Cucinotta | CFO | Person | Managing commercial and fiscal aspects of the merger at Pernigotti. |
| Studio Pirola Pennuto Zei | Legal Advisor | Company | Provided fiscal and corporate legal advice for the merger. |
| Studio Legale Maresca | Legal Advisor | Company | Provided labor law and union consultation for the merger. |
| Francesco Pastore | New CEO | Person | Appointed as the new CEO of Pernigotti after the merger, bringing expertise in the food & beverage sector. |
| Attilio Capuano | Former CEO | Person | Stepped down as CEO following the merger. |
| Luigi Mastrobuono | President of the Board | Person | Continues in his role as president of the board post-merger. |