Lotus Bakeries: acquires full control of Italian JV

Lembeke / BE. (lbbv) In February 2019, together with its Italian distribution partner Lona, Belgium’s Lotus Bakeries Group set up a joint venture, Lotus Bakeries Italia, to focus exclusively on marketing Lotus Bakeries brands. From the outset, Lotus Bakeries already owned the majority of the shares in this joint venture, with an option to ultimately acquire all of the shares.

On 29 March 2021, Lotus Bakeries acquired all of the shares in Lotus Bakeries ltalia. From a new office in Milan, Lotus Bakeries’ own team will further strengthen its position on the Italian market. Italy is one of the most important consumer markets in Europe and a country with plenty of potential for Lotus Bakeries. Over the last few decades, it has developed the market in Italy together with its Italian distribution partner. The collaboration with Lona will be continued, in particular for warehousing and distribution services.

CEO Jan Boone, Lotus Bakeries Group: «With the acquisition of full control over our entity in Italy, we’re taking our next step in this major consumer market. With the necessary focus and support from the rest of the Group, a team of Lotus Bakeries employees based in our own office in Milan, will be able to take the next steps to increase market penetration in this country.»