CFT Group has acquired a minority stake in Milk Project, an Italian company which manufactures machinery and equipment for the dairy industry.
As part of the deal, CFT has bought 40% of the firm, with the right to acquire a majority stake next year.
Milk Project offers turnkey plants and single machines for a range of dairy production demands, including: treatment of raw materials, skimming, cooling, pasteurisation, moulding, ripening as well as the complete packaging of the final product.
The company’s processing lines allow for the production of cheeses such as mozzarella, gorgonzola, ricotta, mascarpone and cream cheese, among others.
CFT is responding to sustained growth forecasted in the global cheese market, which is expected to increase by 2.7% CAGR from 2017 to 2023. It said it was drawn to Milk Project’s “strong know-how and experience in engineering a wide range of solutions for the milk and dairy sector”.
In a statement, CFT said: “Through this acquisition, the most recent in a long series, CFT Group management intends to further expand its product portfolio, by guaranteeing its customers an ever-increasing level of excellence whilst further consolidating its position on the liquid food processing sector, with a special focus on the milk and dairy market.”
Speaking to FoodBev Media last year, CFT Group chief executive officer Alessandro Merusi highlighted the company’s strategy of diversifying its business in order to better face future challenges.
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