CRIOCABIN, A LEADING COMPANY IN THE COMMERCIAL REFRIGERATION MARKET, ACQUIRES MONDEL, WELL RENOWN BRAND IN TAILOR-MADE COUNTERS FOR FISH AND MEAT
Teolo, 21 October 2020
Criocabin S.p.a., a leading company in the design and production of refrigeration counters, announced that entered into a binding agreement for the acquisition of Mondel S.r.l., a well renown brand in the sector. Over time, the company from Solesino (PD) has developed a portfolio of highly appreciated products for food distribution, in particular with custom made displays for fish and meat.
Mondel will integrate with the other companies of the Criocabin family, taking advantage of group synergies while still remaining an independent entity and brand. The terms of the acquisition, whose closing is expected in October 2020, were not disclosed.
"We are delighted to start integrating Mondel, a leading brand in a niche sector, within the group. Our support will better develop its great potential," said Andrea Babetto, President and CEO of Criocabin. "By expanding our business to Mondel products, we will be able to strengthen our presence in certain segments - such as that relating to special products for the display of fish and meat - which are expected to grow strongly on national and international markets. This is a transaction with a strong meaning, since it takes place in a troubled year for the economy, and represents the spirit of growth of our group and the shareholders and management commitment in the pursuit of our objectives "
"The option of being part of the historic Criocabin family, with its great attention to design, a cutting-edge organization and a strong presence on international markets, offers a great prospect of development for our company and all employees", Paolo Miotto and Cinzia Zanella, founders and partners of Mondel commented.
Paolo Miotto and Cinzia Zanella will stay in the group formed by Criocabin, Zoin and Mondel, remaining on the board of directors of the latter.
Marco Polo Advisor with Filippo Rozzanigo and Studio Fava with Paolo Fava assisted Criocabin in the entire acquisition process.
The Lexjus Sinacta Firm, with Dr. Ornella Guarniero, and Dr. Antonio Bertoli, as legal advisor, assisted the Mondel shareholders.