Lantmännen Unibake Signs Agreement to Expand in Italy
Lantmännen Unibake has signed a strategic agreement to acquire Panificio San Francesco S.p.A., a leading Italian producer of frozen bread products for retail customers, deepening its presence in the Italian bakery market.
Panificio San Francesco, founded in 2006 and operating a modern industrial bakery in Codevilla — approximately 75 km south of Milan — is well-known for its strong regional retail footprint and expertise in the competitive bake-off segment.
Under the agreement, Lantmännen Unibake will integrate Panificio San Francesco’s retail network and local product knowledge with its own global capabilities and portfolio. The transaction remains subject to customary closing conditions and regulatory approvals, with completion expected at a later date. Until then, both companies will continue to operate independently with no immediate changes for employees, customers or partners.
“We continue to strengthen and expand Lantmännen’s existing businesses through strategic acquisitions in attractive markets,” said Magnus Kagevik, Group President and CEO of Lantmännen. “This agreement in Italy reflects our ambition to build a strong platform for long-term growth and reinforces our position in the European bakery market.”
Carsten Thomsen, President of Lantmännen Unibake, added: “We are pleased to announce the signing of this agreement with Panificio San Francesco. It supports our ambition to actively participate in the evolving dynamics of the European bakery sector and marks an important milestone. We now look forward to completing the transaction.”
Lantmännen Unibake, headquartered in Copenhagen, serves customers across more than 60 markets and employs around 6,000 people worldwide. Its brand portfolio includes Schulstad, Vaasan, Hatting and Bonjour, among others.
