The British can now put vinegar on tea. ABF acquires Acetum

We learn something new every day. British people put vinegar on chips as well as fish and tea. Associated British Foods, the multinational food processing and retailing company whose brands include Twinings, has reached an agreement to acquire Acetum, the leading Italian producer of balsamic vinegar from Modena. It is a step forward for both companies.

ABF will add flavor to its business, selling the condiment to 100 plus countries worldwide. Acetum will benefit from the diversified British group, with operations across Europe, southern Africa, the Americas, Asia, and Australia, which employ over 130,000 workers.

WORLD LEADING SUGAR BUSINESS FOR THE ITALIAN VINEGAR

Based in London, ABF ingredients division is the world’s second-largest producer of both sugar and baker’s yeast. Its grocery division includes the brands Mazola, Ovaltine, Ryvita, Jordans, and Twinings.

Its retail division, Primark, has more than 300 stores. In April 2016, Primark opened its first store in the north of Milan, Italy. 

BEST KNOWN VINEGAR FOR THE UK’S GROUP

“We have ambitious plans to grow the Acetum brand and the acquisition will broaden our international presence in specialty foods,” reads the ABF press release. Balsamic vinegar from Modena is one of the best-known kinds of vinegar, which has been granted European Protected Geographical Indication status due to its unique manufacturing tradition and provenance, as well as its high quality. The Italian company was founded by Cesare Mazzetti and Marco Bombarda and is based in the Province of Modena in Northern Italy. Its brands include Mazzetti, which is the leading brand in Germany and Australia, Fini and of course, Acetum. 

UNITED WE STAND, DIVIDED WE FALL

In 2016, Acetum had a consolidated net turnover of €103 million. That’s a lot of money, but not as much as the ABF turnover of about ￡13bn. As food companies, they speak the same language.

“Balsamic vinegar from Modena – said the Acetum President to Italianfood.net – confirms itself as a highly loved product abroad. The United States is the most important export market, with almost 40% of sales. Now we are around 2% growth and 700 million worth of consumption of our productions, but there are still many opportunities.”

As the motto says, united we stand, divided we fall. This also applies to vinegar and tea. 

@filippo_poletti

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