ROME: Bakkavor is set to sell off its existing stake in the Italpizza business, after partner Dreamfood exercised its right to fully acquire the company. No financial details of the move were disclosed.
In May 2014, Bakkavor had sold a 40% stake to Dreamfood, which also received a three-year option to buy out the remaining 60% stake. Bakkavor said it has received a formal notice that Dreamfood is exercising that option, adding that the deal is expected to be completed in the second half of 2015.
Italpizza makes fresh and frozen authentic Italian wood-fired pizzas, and supplies retail, foodservice, and home delivery markets in Europe and North America.
