Yarpa and LBO sell LAG to Vandemoortele

The deal will enable Vandemoortele to expand its product range to include traditional Italian products such as focaccia and ciabatta.

Under its private equity owners, the business undertook a buy-and-build growth strategy, notably acquiring Agritech in 2011.

The sale to Vandemoortele took place in the same week Yarpa and LBO sold Izo, an Italy-based pharmaceutical company, to German trade buyer Vaxxinova.

Previous funding
In 2011 Yarpa and LBO acquired LAG (known then as Lanterna Alimentari), in a deal that gave the business an enterprise value of €30m.

Company
Headquartered in Genoa and founded in 1996, LAG produces pre-baked bread products, including focaccia and ciabatta. The business generates revenues of €87m and has a headcount of around 300 across three production sites in Genoa, Ravenna and Padua.

People
Paolo Soldateschi is CEO of LAG. Jean Vandemoortele is chairman of Vandemoortele.

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