L’Albero del Pane opens its capital to accelerate its development in sweet and savoury baked goods

Unigrains Italia and BNP Paribas BNL Equity Investments will support L’Albero del Pane’s consolidation strategy in the Italian baked goods industry

Agazio Tedesco, CEO of L’Albero del Pane, and the Tedesco family reinvest significantly

Milan (MI), December 9^th, 2025 – L’Albero del Pane, a leading Italian producer and distributor of sweet and savoury baked goods, including biscuits, croissants, fresh pastries, seasonal delicacies and bread substitutes, announces the opening of its capital to Unigrains Italia and co-investors BNP Paribas BNL Equity Investments, Hydra and Alexa Invest. Alongside Agazio Tedesco, CEO, and the Tedesco family, this operation aims at accelerating L’Albero del Pane’s development through organic and external growth projects.

Since its creation in 1979 by the Tedesco family, L'Albero del Pane has adopted a strategy based on product research and innovation. Targeted investments in machinery and human capital have enabled the company to progressively extend its product range, which now includes over 1,000 SKUs. Thanks to recent investments in production capacity and the ongoing expansion of its facilities, L’Albero del Pane ensures customers excellent client service and flexibility, while maintaining high standards of quality and cost-effectiveness.

With its three production plants (spanning a total area of approximately 40,000sqm) and 230 employees, L’Albero del Pane and its subsidiary Tedesco Srl had total sales of approximately €63 million in 2024. Roughly 45% of revenues were generated through its proprietary brands – Ore Liete, GranArt and Piselli – and the company exported approximately 30% of total revenues to over 70 countries.

With the support of its new investors, Unigrains Italia, BNP Paribas BNL Equity Investments, Hydra and Alexa Invest, L’Albero del Pane will explore new opportunities, including through external growth acquisitions, positioning itself as a consolidator in a dynamic yet still fragmented market. The company will leverage its unique expertise in production, procurement, and its robust sales network, both in Italy and abroad, reinforced by its broad and diversified range of sweet and savoury baked goods, including biscuits, croissants, fresh pastries, and bread substitutes.

Human Capital and Know-How for Future Growth

To achieve its growth objectives, L’Albero del Pane, under the leadership of Agazio Tedesco, also plans to strengthen its management teams, bringing in technical profiles to contribute new skills, elevate the existing know-how, further improve product quality, and continue to innovate with new recipes, in support of this new development phase.

Banco BPM acted as the sole lender in this transaction through its Reggio Emilia Corporate Banking Centre.

Agazio Tedesco, CEO of L’Albero del Pane, declared: “Through this transaction, we are taking an ambitious step forward, relying on the support of Unigrains Italia, a financial partner specialized in the agri-food sector. This partnership will sustain us in pursuing our growth strategy, both organic and through external acquisitions.”

Francesco Orazi, CEO of Unigrains Italia declared: “We have long followed the Tedesco family and the company’s management team throughout their journey. Over the years, the company has achieved extraordinary results by capitalizing exclusively on its own resources. We consider the baked goods sector to be a distinctive segment of the 'Made in Italy' tradition and believe it maintains high growth potential, whether organically or through acquisitions. For this reason, we intend to support L’Albero del Pane both commercially, by leveraging our network of relationships, and in terms of identifying potential acquisition targets.”

Vittorio Ogliengo, President of BNP Paribas BNL Equity Investments, declared: “We are delighted that BNP Paribas BNL Equity Investments is joining the Tedesco family and Unigrains Italia to support the development of L’Albero del Pane, a leading company in the sweet and savoury baked goods sector. The BNP Paribas Group's deep understanding of the sector allowed us to positively evaluate the validity of this project. We look forward to providing a concrete, valuable contribution to support the company's growth.”

Filippo Volta, CEO of Hydra, declared: “L’Albero del Pane represents a virtuous example of an Italian company capable of combining tradition and innovation, building a distinctive positioning within the bakery products market over time. With this investment, we intend to support the management's vision and contribute to the consolidation of its growth trajectory, by making available our expertise in the structural and strategic strengthening of high-potential companies.”

Carmelo Melfi, Founder of Alexa Group, declared: “L'Albero del Pane has demonstrated a remarkable ability to diversify its product range and expand the opportunities for its clientele. The current results are the direct consequence of a courageous and far-sighted investment strategy. I am proud to partner with a successful entrepreneur who has not only known how to adapt to the market but also how to anticipate its changes.”

Adelmo Lelli, Head of Direzione Territoriale Emilia Adriatica of Banco BPM, declared: “We are delighted to have played an important supporting role in a high-potential transaction. Banco BPM is proud to partner with Unigrains Italia in the development of Italian excellence in the food supply chain, a sector that is strategic for the country and experiencing strong growth.”