SASSO Brand goes to Minerva

Back to Press releasesVevey,Jul 19, 2002

Nestlé Italiana has announced today that it has agreed to sell its Sasso brand to Minerva Agricola Alimentare SpA, a company controlled by the Gasparini family who have had long consolidated experience in the olive oil sector.

Minerva is already the owner of the Voghera factory where Sasso oil is currently canned.

Minerva will therefore add further value to its core activities and will continue to maintain a very tight working relation with Nestlé Italiana.

According to the agreement, Nestlé Italiana will continue to market and distribute Sasso olive oil and vinegar using its own commercial and logistical network.

The annual turnover involved in Italy and abroad is about Euro 60Mio.

This agreement is subject to approval by the Italian Antitrust Authority.

Minerva made use of Rabobank International’s assistance as an advisor in the operation and Iasiello Musso Piantelli lawyer’s office.