In February 2019, together with Italian distributor partner Lona, Lotus Bakeries set up a joint venture, Lotus Bakeries Italia, to focus exclusively on marketing Lotus brands. From the outset, Lotus 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 Italia. 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. 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, said: “With the acquisition of full control over our entity of 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 employees based in our own office in Milan, will be able to take the next steps to increase market penetration in this country.”
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Editor, International Bakery
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