Argos Wityu acquires Italian bakery business Monviso

Argos Wityu, a pan-European investment group, has acquired Italian bakery manufacturer Monviso. The financial terms of the transaction were not disclosed. Monviso, which has nearly 90 years of experience in the dry bakery sector, specializes in premium, gourmet, and health-conscious products. The company, previously owned by Cerea Partners and CAPZA, is recognized for its diverse range of products, including rusks, biscuits, and bread substitutes, and operates five production plants across northern Italy.

Argos Wityu acquires Italian bakery business Monviso, further enhancing the group’s portfolio in the food industry. Based in Northern Italy, Monviso’s brand is particularly well-known in the retail and private-label channels, with its Monviso rusk brand ranking as the third-largest in Italy. The company focuses on producing health-conscious options, including organic, gluten-free, and palm oil-free products, which have become increasingly popular among consumers.

Monviso has steadily expanded its product offerings through strategic acquisitions, such as Biscotteria Tonon in 2015 and Grissinificio Europa in 2018. Argos Wityu acquires Italian bakery business Monviso, viewing this as an opportunity to support the company’s innovation and growth. Argos Wityu’s managing partner, Jean-Pierre Di Benedetto, emphasized that while the bakery sector may seem traditional, the key to substantial growth lies in continuous innovation to meet the changing needs of consumers. “Final and intermediate client needs are rapidly evolving, and producers need to accompany and anticipate those changes,” he noted.

The company is expected to generate around €60 million ($63.38 million) in revenue in 2024. With Argos Wityu’s support, Monviso plans to strengthen its position as a leader in the premium dry bakery market, targeting retailers, co-makers, and industrial clients with an expanded multi-product portfolio. The appointment of Francesco Pugliese as chairman, who brings extensive experience in food retail and consumer goods, is also seen as a strategic move. Pugliese previously served as CEO of CONAD and general manager of Barilla. Monviso’s CEO, Manfredi Cusmano, expressed optimism about the partnership, stating that it would further bolster the company’s leadership and drive innovation in response to evolving customer demands.