Turkish local firm buys iconic Italian chocolate brand

MILAN / ISTANBUL

Ahmet Toksöz, board member of the Toksöz group, poses with firm’s products.

The Turkish Toksöz group, which owns very well-known local chocolate brands, such as Sagra and Sarelle, acquired Pernigotti, a 150-year-old Italian chocolate brand, from Fratelli Averna on June 11.

Pernigotti, famed for its “gianduiotti” hazelnut-flavored nuggets, has annual sales of around 75 million euros, with 55 percent of the sales coming from chocolates and candies, and 45 percent from ice cream.

“We are so happy for acquiring such a high-quality brand. This is our first overseas acquisition. We hope to become stronger in the global markets as well as the Turkish market with the big contribution of such a well-known brand,” Ahmet Toksöz, board member of the Toksöz group, said.

Fratelli Averna said the historical brand would be in safe hands to grow and to spread more, in a press statement.

Pernigotti chocolates are produced by some 150 workers in Italy, and sold to Germany, the United States, Latin American countries and China.

Toksöz group has operations in the food, medicine and energy sectors, and has annual revenues of around 450 million euros, 18 percent of which come from chocolates and ice-cream.