Clessidra SGR S.p.A. (“Clessidra”) announced it has signed a definitive agreement to sell Acetum S.p.A. (“Acetum”) to Associated British Foods (“ABF”).
Acetum is the leading manufacturer and distributor of Balsamic Vinegar of Modena, a PGI-certified specialty vinegar among the most famous and appreciated Italian food products.
Clessidra acquired an 80% stake in Acetum in 2015 with the remaining 20% retained by the founding shareholders, Cesare Mazzetti and Marco Bombarda. During the investment period, Clessidra and the other shareholders have made significant investments to strengthen the management structure and to support the product offering.
