Fornaio del Casale Forms €85m Snack Group Through Three Add-On Deals

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First Major Step Since Aksìa Takeover Ignites Expansion (Image Credits: Unsplash)

Italy – Private equity-backed bakery producer Fornaio del Casale has completed three acquisitions to create a diversified platform in the premium sweet and savoury snack sector. The deals, announced on April 13, bring Castelfood, Figulì and Dolciaria Ponte Vecchio under the Fornaio del Casale umbrella, forming the new Equipe Del Casale Group.[1][2] This move marks the initial step in an ambitious buy-and-build approach led by investor Aksìa.

First Major Step Since Aksìa Takeover Ignites Expansion

Fornaio del Casale serves as the cornerstone of this emerging powerhouse. Founded in 1969 and headquartered in Casale sul Sile near Treviso, the company produces baked goods under the Gecchele and Antico Casale brands. It will anchor the group’s industrial and commercial operations.[1]

Aksìa secured a majority stake in Fornaio del Casale last August from Riello Investimenti and the founding Gecchele family. Riello and the Gecchele family retained minority positions and collaborated on these latest transactions. The trio of deals targets family-run enterprises, with their founders reinvesting alongside Aksìa.[1][3]

Founders Gianni Rizzato of Castelfood, Filippo Albertini and Fabio Sartori of Figulì, and Andrea Puccioni of Dolciaria Ponte Vecchio remain actively involved in day-to-day management. No financial details emerged from the announcements.

Diverse Portfolios Strengthen Market Position

Each acquisition introduces specialized product lines that complement Fornaio del Casale’s offerings. The companies primarily serve retail channels with branded and private-label products. Italy represents their core market, followed by the UK.[1]

Castelfood specializes in innovative snacks derived from cereals, rice and vegetables. Its international reach bolsters the group’s export capabilities. Figulì excels in organic and natural baked goods, with a focus on health-oriented and gluten-free options. Dolciaria Ponte Vecchio upholds tradition through cakes and doughnuts.

• Castelfood: Cereal-, rice- and vegetable-based snacks; strong global sales network.
• Figulì: Organic baked products emphasizing health and gluten-free varieties.
• Dolciaria Ponte Vecchio: Classic Italian baked treats like cakes and doughnuts.

These additions enable cross-selling opportunities and broader category coverage in the competitive snack arena.[1]

Equipe Del Casale Group Emerges as Scalable Platform

The combined entity, Equipe Del Casale Group, operates five production facilities across Italy. It employs 150 staff members and generates approximately €85m ($99.4m) in annual revenue. Exports account for 20% of sales, reaching more than 25 countries.[1]

Leaders project 10% growth for 2026. The structure supports synergies in production and distribution.

This table highlights the revenue contributions fueling the group’s momentum.[1]

Integration Focus Promises Synergies and Growth

Aksìa partner Filippo Anichini outlined the path ahead. “The group is now embarking on an integration and consolidation process aimed at fully capturing the commercial and production synergies arising from the combination of the different businesses,” he said. “We intend to further enhance the strength of the Gecchele and Figulì brands, alongside the development of new brands and an expansion of our presence in target markets.”[1]

The strategy emphasizes scalability. Cross-selling branded products and private labels will drive efficiency. International expansion, particularly beyond Italy and the UK, looms large on the horizon.

For more details, see the original report on Just Food.[1]

Equipe Del Casale Group positions itself as a leader in premium snacks through disciplined growth. Investors and founders align on leveraging complementary strengths for sustained success. What do you think of this bakery consolidation? Share your views in the comments.