Through its investment company Korys, the family behind Belgium’s biggest supermarket chain Colruyt has acquired a minority stake in Italian food producer Euro Company. The aim is to accelerate the company’s international expansion.
“Extraordinary opportunity”
Euro Company is a major processor of nuts and dried fruits from Ravenna. The B Corp certified company also uses its nuts to produce plant-based spreads, helping it reach 161 million euros in sales last year. Its general manager Maurizio Castagnoli calls the partnership “extraordinary opportunity to strengthen our international growth while preserving our values and company identity, guided by the belief that business can be a driving force for positive global change.”
Korys was set up twenty years ago to invest in sustainable companies, gradually expanding its portfolio to reach its current size of four billion euros. “Euro Company’s transparent and sustainable approach is perfectly aligned with our investment principles. The nuts and dried fruit sector continues to grow, and Euro Company is well positioned to meet consumer demand with conscious and ethical products”, investment manager Katti Van Oosterwijck said in a press release.
