Valeo continues sweets sweep with pandoro inventor acquisition

Sweets and snacks giant Valeo has continued its sweep of the Italian baked goods market with the acquisition of Melegatti, its seventh acquisition in the sector in 10 years.

The original manufacturer of pandoro, a sweet sponge cake popular in Italy as an alternative to panettone at Christmas, Melegatti also produces panettone and cornetti (filled croissants).

Founded in 1894 with the invention of pandoro, Melegatti’s strong brand presence proved an attractive proposition for Valeo, according to CEO Ronald Kers.

“This acquisition marks a significant strategic step in expanding our portfolio of high-quality, well-known brands and underscores our commitment to excellence, innovation, and long-term value creation,” Kers said.

“As we integrate Melegatti into our business, we strengthen our presence in south west Europe and open new avenues for growth across our global network – all while bringing authentic, high-quality Italian bakery treats to consumers around the world.”

Alberto Alfieri, CEO of Valeo Foods’ south west Europe subsidiary, added the “craftsmanship and care” Melegatti is known for aligned well with the group’s own values.

“This means we can preserve what makes Melegatti special while continuing to grow sustainably, bringing another example of Italian food tradition and excellence to the global market,” he said.

Valeo entered the Italian bakery market in 2015 with its acquisition of local giant Balconi, a specialist in sponge cakes and wafers. It preceded the Melegatti deal with its acquisition of wrapped sponge cake manufacturer Freddi Dolciaria in May 2025.

The deals will allow Valeo to strengthen manufacturing and logistics capabilities, the company said, adding capacity across its Italian manufacturing base while keeping the distinctive character of their products.

Owned by Bain Capital since 2021, Valeo has annual turnover of around €1.8bn, employing almost 6,000 staff across 30 facilities in the UK, Europe and Canada. It owns more than 90 brands, including the likes of Rowse, Barratt and Kettle.