STEF Makes Italian Frozen Food “Biggest Acquisition”
8th May 2018
The STEF Group announced its takeover of part of the activities of the Marconi Group, described as the Italian leader in frozen food logistics.
STEF is buying,through ImmoSTEF Italia, their property company which specialises in refrigerated real estate, one of the biggest frozen foods logistics platforms in Europe located in Fidenza (Parma, pictured) as well as a warehouse in Ascoli Piceno (in the Marche region). The two sites represent a total storage volume of 1.3 million m3. The agreement also includes the takeover of the logistics and transport activities of these two sites, accounting for a turnover estimated at around €55 million.
Stanislas Lemor, Deputy Chief Executive Officer of STEF Group and Chairman of STEF Italia, stated that “this is the biggest acquisition in the temperature-controlled logistics sector to have taken place in Italy in the last few years. The takeover allows the STEF Group to significantly strengthen its frozen food network in Europe, and STEF Italia to be in the best possible position to continue its growth.”
This acquisition brings STEF Italia onto the frozen market (-25°C). The two new sites are described as the perfect way to complete their service offering, which already includes 29 sites dedicated to chilled and thermos-sensitive food as well as seafood.