(Alliance News) - Zamaz PLC on Monday said its subsidiary Bella Dispensa bought Dallatte Italia srl for EUR1 million.

Zamaz is a London-based aggregator of sustainable brands in e-commerce and retail technology. It said Dallatte is a Piedmont, Italy-based manufacturer and distributor of premium dairy products using natural ingredients including ice cream and pastries, milk, butter and cooking cream, fresh and dry pastries and frozen filled pasta.

Dallatte was founded in 2019 and started trading in 2022. It achieved sales of over EUR1.3 million in 2022 and break-even profit in its first year from offline sales, Zamaz said.

Dallatte expects to achieve positive growth in sales and operating margin in 2023 as it diversifies into online sales and expands its offline partnerships.

At year-end December 2022, Zamaz said Dellatte had estimated net assets in excess of EUR1.5 million, compared to the purchase price of EUR1 million.

For Bella Dispensa, the acquisition further strengthens its position as a major operator in the premium e-commerce 'Made in Italy' food sector, it said.

Zamaz Chair Martin Groak commented: "Bella Dispensa has a key role to play in achieving Zamaz' long-term, international growth ambitions. The Italian e-commerce industry is rapidly expanding and innovating, and the Italian food theme is attractive to a wide and global audience. The acquisition of Dallatte delivers another boost to group revenue and is a tangible demonstration of Zamaz' portfolio strategy in action; aligning with growing markets and consumer categories whilst maintaining premium quality."

Zamaz shares were unchanged at 9.00 pence each on Monday morning in London.

By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.