On 19 February 2025, Eurofood group Vandemoortele, owned by the European family Vandemoortele, has purchased Lizzi, a specialty manufacturer and distributor of frozen bakery items, from Forno d'Asolo.
The deal – details of which were not revealed – sees Vandemoortele extend its investment in the Italian frozen bakery market with the goal of propelling its growth forward. The move comes after Vandemoortele acquired Dolciaria Acquaviva in June 2024.
Lizzi makes a turnover in excess of €70 million with more than 240 employees operating from its four production sites across Northern Italy. The firm delivers its products within foodservice as well as the large-scale trade. It manufactures the Lizzi pastry specialties, Forno della Rotonda sourdough bread and focaccia, and Spar's natural bread and Piedmont specialties.
Vandemoortele, established in 1899 in Belgium, is a producer and distributor of frozen baked products and vegetable food solutions. It has operations in 12 EU countries, the US, and Asia. Its Italian brand portfolio – its second-largest market – comprises Agritech, Lanterna, Acquaviva and Banquet D'or, Doony's, and Patisserie du Chef.
Yvon Guerin, Vandemoortele's CEO, declared: "We are pleased to welcome Lizzi to the Vandemoortele family. Alongside Dolciaria Acquaviva within our group, this strategic takeover further strengthens our presence in Italy, in alignment with our aspiration to deliver excellent products and experiences to our consumers."
Peter Boone, Vandemoortele's managing director for bakery products, said: "With our Italian Team, we are especially proud of this next step in our development. We will be able to supply our Italian customers with an even broader assortment of specialty pastries and breakfast pastries, artisan breads, pizza, and focaccias, throughout all of Italy."
As per Coherent Market Insights, the frozen pastries industry is expected to register growth at a rate of 4.6% CAGR in the forecast period from 2023 to 2031 due to increasing demand for convenience snacks and bakery products. It was anticipated at US$ 2,419.3 Mn in 2023 and is expected to reach USD 3,168.6 Mn by 2031.
CMI’s senior management consultant, Yash Doshi, highlights that the growth is driven by the rising demand for convenient snack and bakery options.
Vandemoortele’s acquisition of Lizzi, a leading Italian frozen bakery specialist, marks a significant strategic move in the frozen pastries industry. This merger strengthens Vandemoortele’s market position, enhancing its product offerings and expanding its reach in Italy and beyond. By integrating Lizzi’s expertise and established presence, Vandemoortele gains a competitive edge in the growing frozen bakery market, particularly in the premium segment.
The acquisition reflects an industry trend toward consolidation, with businesses aiming to diversify their portfolios and meet increasing consumer demand for convenient, high-quality baked goods. This move positions Vandemoortele for future growth in the sector.