OREANDA-NEWS. April 18, 2008. SAHO purchased 70% of shares of Bassanina and Meccanica Marcon companies (Italy).

“Siberian Agrarian Holding” group (SAHO) stroke a deal of purchasing 70% of shares of one of leading Italian producers of bread-baking equipment-Bassanina company (official web-site is www.bassanina.com). Simultaneously SAHO purchased 70% of shares of another Italian company Mechanica Marcon which specializes in metal processing and production of complementary parts for bread-baking equipment.

SAHO has been developing as a vertically integrated body producing grain and selling bread. In 2007 the holding started setting up federal network of bread-baking plants “Hlebnitsa”. In the coming years it is planned to launch about 150 bread-baking plants. In future equipment of bread-baking plants is going to be maintained and renewed. According to the logic of vertical integration SAHO governance took decision to take over one of Italian producers. Italy was chosen because this country is one of the world leaders in bread-baking technologies. Moreover, bread-baking enterprises already have solid experience in using Italian equipment.

The deal has been prepared for 9 months. According to the results of negotiations with the majority of large Italian producers, Bassanina company offered SAHO the most attractive terms. This company is well-known in European, American, African, Middle East and CIS markets as a producer of premium bread-baking equipment price of which stands out among competitors` products. Key activity of Bassanina is oven production as oven is basic unit in bread production.

Until recently the company used to be 100% family-owned enterprise. Juseppe Marcon used to be the major shareholder and director. He also controlled Mechanica Marcon company specialized in metal processing. Bassanina is the core customer of Mechanica Marcon. Both enterprises are located in Bassano Del Grappa town, in the industrially developed north of Italy, between Verona and Venice.

According the terms of the contract, sum of transaction is held confidential. 30% of total sum necessary to purchase the enterprises was SAHO own funds. 70% of necessary funds were raised in Unicredit bank (Italy).

After purchasing 70% of shares of the companies SAHO is not going to change their marketing policy radically. Top-managers of Bassanina and Mechanica Marcon will remain at their posts. It is planned to strengthen commercial services of the enterprises to expand sales geography. It is also planned to strengthen services of quality control and equipment maintenance. Moreover, SAHO supports intention of Bassanina management to diversify product range and increase volume of production.