Pernigotti Takes on Walcor to Form Confectionery Powerhouse
Deal News | Jul 01, 2025 | Finance Community IT - 1 Corporate M&A
In a strategic merger, Pernigotti has incorporated Walcor to create a new powerhouse in the confectionery sector. Both companies, now under the control of JP Morgan Asset Management and Invitalia, boast combined annual revenues of EUR 70 million and employ over 340 workers to support a robust export presence in nearly 50 countries. The merger, aims to simplify corporate structures, expand commercial offerings, and streamline operations, further strengthening Pernigotti's capacity for agile management and quick decision-making. Pernigotti's board also appointed Francesco Pastore as the new CEO, succeeding Attilio Capuano. With a strong background in the food and beverage sector, Pastore's leadership is expected to leverage the merger's synergies and expand the group's global footprint. The legal and commercial aspects of this merger were overseen by Pernigotti's Eduardo Di Mauro and Lodovico Cucinotta, with additional legal support from Pirola Pennuto Zei and Maresca Law Firm.
Sectors
- Confectionery Manufacturing
- Private Equity
Geography
- Italy – The merger involves Italian companies, and the operations and historical roots are firmly entrenched in Italy.
Industry
- Confectionery Manufacturing – The article details the merging of two entities in the confectionery sector, creating a powerful player in the industry.
- Private Equity – JP Morgan Asset Management's involvement indicates the role of private equity in facilitating strategic mergers such as this one.
Financials
- EUR 70 million – The combined annual revenue of Pernigotti and Walcor post-merger.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pernigotti | Target company | Company | An Italian confectionery company involved in the merger with Walcor to expand its market presence. |
| Walcor | Selling Company | Company | Another confectionery company that has been incorporated into Pernigotti as part of the merger. |
| JP Morgan Asset Management | Investor | Company | An American firm that has strategic control over Pernigotti, facilitating the merger. |
| Invitalia | Investor | Government | An Italian national agency for inward investment and enterprise development, involved in supporting corporate restructuring. |
| Francesco Pastore | New CEO | People | Appointed as the new CEO of Pernigotti post-merger, steering the company through its transition. |
| Eduardo Di Mauro | Head of Legal | People | Managed legal and corporate aspects concerning the merger. |
| Lodovico Cucinotta | CFO | People | Responsible for the commercial and fiscal aspects of the merger. |
| Studio Pirola Pennuto Zei | Legal Advisor | Company | Assisted Pernigotti with legal aspects of the merger. |
| Studio Legale Maresca | Legal Advisor | Company | Provided legal services for labor law and union consultations during the merger. |