March 29 2019, David R Brown
Safic-Alcan acquires Luigi & Felice Castelli and a majority stake in Castelli Food
France-headquatered, specialty chemicals distributor Safic-Alcan has announced that the group has acquired 100% of the shares of Luigi & Felice Castelli S.p.A. ('LFC'), a distributor of ingredients to the Italian life sciences sector for an undisclosed sum. In a parallel transaction Safic-Alcan also took a majority share in Castelli Food S.p.A. ('CF'), a distributor of specialty ingredients for the Food & Beverage Industry. Both companies are based in Milan.
The acquisition of Luigi and Felice Castelli is a major step forward for our ambitious life science plans in EMEAYann Lissillour
Director of Mergers and Acquisitions for Safic-Alcan
Established in 1868 and headquartered in Milan, Luigi & Felice Castelli is a well-known distributor with a focus on ingredients for cosmetic in Italy as well as serving the pharmaceutical industry. Castelli Food S.p.A. was formed in 2015 and specialises in the Italian food sector supplying products such as yeast extracts, fibers, spices and herbs, milk derivatives, vegetal extracts, custom blends and a full range of other organic products.
“The acquisition of Luigi and Felice Castelli is a major step forward for our ambitious life science plans in EMEA,” stated Yann Lissillour, Director of Mergers and Acquisitions for Safic-Alcan.
“Luigi and Felice Castelli is an excellent fit to our activities in Italy, together with our existing local structure headed by Pietro Affer, we will become a formidable force in the country,” concluded Philippe Combette, CEO of Safic-Alcan.
The LFC team will remain under the auspices of Mr Ravanelli and Mr Sala and Dr Montana will continue to lead the activities of the Castelli Food division. He will aslo remain a shareholder of the company.
Safic-Alcan is a French independent distributor of specialty chemicals headquartered in Paris-La Défense (France). The Company develops and provides wide ranges of polymers, materials and additives for the rubber, coatings, pharmaceuticals and cosmetics industries. The Group is present in all major countries of the European Union, as well as in Turkey, and China with on-going strategic development in Eastern Europe, the USA and Mexico. Safic-Alcan employs 585 people worldwide and posted sales revenues of EUR 611 million in 2018.
Source(s): Safic Alcan Press Release