Panettone Buy-Out Completed

Italian bakery company Bauli has acquired panettone producers Motta and Alemagna from Nestle.

The Verona-based company will now be the world’s leading producer of the classic Italian cake which is eaten as a Christmas holiday tradition.

The buy-out marks the end of more than a decade of ownership by Nestle.

Michele Bauli, a spokesperson for the bakery firm, said: “The mystique of a dessert that is a tradition in Italy and our commitment to its authenticity and natural goodness has an appeal to the American market which is always exploring classic treats from other cultures. If you want authentic Italian, you want Bauli. Today our processes respect the product’s original, century old features, with the added value of greater food safety controls.”

Bauli’s product line includes its panettone and pandoro, a line of Doriano multi-grain and traditional crackers, croissants, specialty cakes as well as cookies under the Doria brand name.

The Bauli brand, which was founded over 80 years ago, is estimated to be worth $560 million (US).