Parmesan cheese under French control? This hypothesis raised on Thursday an outcry in Italy, where the Minister of Agriculture promised to "protect Italian agribusiness from the onslaught of foreign multinationals". According to the press of the peninsula, the French giant Lactalis would be interested in a possible takeover of the group Nuova Castelli, one of the main exporters of Parmigiano Reggiano and which also counts in its portfolio brands of gorgonzola and mozarella.
The brand has a thousand employees
Italian historical brand, founded in 1892, Nuova Castelli had a turnover of 460 million euros last year and has a thousand employees. Since 2014, the group has been 80% owned by the UK Charterhouse Fund. According to the media, the fund would think either to bring in a partner, for example an investment fund, or to sell the group. Other potential buyers would include the Italian Granarolo.
"Lactalis already holds a third of the national market in the strategic compartments of the dairy-cheese sector.It must stop the sale of Parmigiano Reggiano to the French not to repeat the mistakes of the past, with the transfer of Parmalat to Lactalis, when was lost a great opportunity for the country to stand together, "said Ettore Prandini, president of the Coldiretti, the main agricultural union in Italy. He asked the government to react, stressing the need to "defend historic brands", by creating an alliance between Italian actors for a possible recovery.
The government wants to "protect Italian agribusiness from the onslaught of foreign multinationals"
The Minister of Agriculture, Gian Marco Centinaio, was quick to react Wednesday night. "We will do everything to protect Italian agribusiness from the onslaught of foreign multinationals." Parmigiano Reggiano is one of the most popular products representative of Made in Italy, a pride of our gastronomic excellence, "said the minister from the 5-star movement (M5S, antisystem). "This is a historic brand that will be defended," added the one who opposes for example the Free Trade Agreement between Canada and the European Union.
Lactalis has already acquired many Italian brands, such as Galbani, Invernizzi, Cadermartori, Vallelata and Parmalat. For Parmalat, he took control in 2011 via a hostile takeover, which had already stirred a stir in Italy and Rome had done everything to block. Italians are regularly annoyed by the French economic hegemony in their country, where many companies have fallen under tricolor, especially in luxury (Gucci, Loro Piana, Fendi ...) and the bank.