Crosta Mollica is merging with European Pizza Group (EPG), producer of the Wagner and Buitoni pizza brands, to form one of Europe’s largest pizza businesses.
EPG is a joint venture that was launched by Nestlé and private equity firm PAI Partners in 2023 to spin out Nestlé’s frozen pizza business in Europe.
There are no immediate plans to change the operating model of Crosta Mollica or EPG under the deal announced yesterday (23 September), with both operating as standalone businesses.
Crosta Mollica chairman David Milner will become group CEO of the combined entity, while Tom Sirett will continue as CEO of Crosta Mollica and Matthias Casanova will remain CEO of European Pizza Group.
Crosta Mollica said it will focus on maintaining the momentum that has made it one of UK grocery’s standout growth stories. Since David Milner and Tom Sirett joined in January 2024, retail sales have tripled from €90m to €270m.
“I am excited by the potential of this merger,” said Milner. “Wagner and Buitoni are strong brands with excellent positions across Europe. Bringing them together with Crosta Mollica creates a highly complementary portfolio.
“Our focus will be on building on the strengths of each business while using the scale and capabilities of the combined group to accelerate growth. We have outstanding brands, talented people, and a strong platform from which to take the business forward.”
The combined group will continue to be backed by the existing shareholders of each entity: PAI, Perwyn, Nestlé and management.
Crosta Mollica added that the merger was happening at a time of “significantly favourable tailwinds in the European pizza market”.
“The grocery retail pizza market is gaining significant share on the pizza delivery market as consumers seek premium, restaurant quality experiences at home,” it explained.
No comments yet