The Pasta Giant De Cecco wants to enter the Italian stock market
The assessment for the quotation is on-going and the brand certainly has good chances to become a finance bond
The popular Italian Pasta De Cecco might soon become a protagonist of Italian stock market, Piazza Affari. The assessment for the quotation is on-going and the brand certainly has good chances to become a finance bond.
As explained by the Italian Daily Corriere della Sera, De Cecco is the third world pasta producer - only behind Barilla and Ebro Foods (Spain) - being a symbol of Made in Italy in the world. The company was founded 131 years ago (1886) by Nicola De Cecco, who produced his flour at the mill of Fara San Martino (Chieti) where the company still has a production site. De Cecco is today active in 120 countries worldwide, having 26 direct descendants of Nicola on the managing board.
The company is very active and it stands out as a leader of Italian economic scenario. In 2015, De Cecco closed its balance sheet with a turnover of 416 million Euros, out of which 174 million were made abroad. This data highlights the great importance of exports for the Italian company as well as the love foreign consumers have for Italian pasta.
While De Cecco pasta is exclusively produced in Italy (Abruzzo) it is interesting to mention that in Russia, De Cecco (in partnership with local brands) has achieved the second position in the market.
After all, Italians have always been famous for their food and pasta is definitely at the forefront. According to a recent study of the International Pasta Organization (2015), there are 14,3 millions of tonnes of pasta produced every year. Italy is the first producer (3,2 million tonnes), followed by USA (2 million tonnes) and Turkey (1,3 million).
Pasta is not the only item De Cecco produces. In fact, the company also has a wide array extra virgin olive oil, sauces and tomato products, able to satisfy even the pickiest palates.