Home » Pernigotti, preliminary agreement to sell to Jp Morgan but many unknowns remain

Pernigotti, preliminary agreement to sell to Jp Morgan but many unknowns remain

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Pernigotti, preliminary agreement to sell to Jp Morgan but many unknowns remain

On the table there is a preliminary agreement, the result of an expression of interest by Jp Morgan towards Pernigotti, which dates back to last spring. But the sale of the historic Turkish-controlled chocolate brand of Toksoz to the American group, in particular to Lynstone, remains an open question. So much so that the table at the Ministry of Labor, which will have to take care of the possible renewal of the redundancy fund for the seventy employees, was reconvened on 2 August.

The point of the industrial affair of Pernigotti of Novi Ligure remains the same: what does the Turkish ownership of the Pernigotti brand and of the productive assets in Italy really intend to do, in particular of the chocolate factory in the province of Alessandria, which it would have, as the unions reiterate from months, the need for investments in production lines and machinery to be able to restart.

“The table at the Ministry of Labor – underlines Michele Tartaglione national secretary of Uila – has been updated pending the specifications relating to the industrial plan necessary for the renewal of the redundancy fund while the outcome of the checks by the inspectors of the ministry of the Work. We believe that after a long time the workers need clarity and concrete commitments ». The fear among the workers’ representatives is that, despite the preliminary agreement, the sale to Jp Morgan may not be concluded positively and that the ownership, in the end, will change its mind.

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The preliminary contract provides for the sale of the shares of Pernigotti by the first days of August and the transfer of ownership by September. The project stems from the collaboration “in the field” between Pernigotti and Walcor, a historic company from Cremona supported by Jp Morgan Asset management, which has already been making Pernigotti Easter eggs for years and is also responsible for product distribution. And it relies on the fact that the two brands are complementary on the shelf: on the one hand creams, chocolate and Pernigotti nougat, on the other the products for Walcor’s anniversaries, eggs and chocolate coins.

The Pernigotti affair has seen numerous passages after the announcement, at the end of 2018, of the desire to close the Italian plant and transfer all production to Turkey. Steps that have complicated the matter. At first, the company sold the ice cream branch – in the meantime taking a step back from the agreements made with Emendatori for ice cream and with Spes for chocolate and nougat – then presented a 4 million industrial plan that was never implemented, until it opened the phase of search for potential partners and industrial investors.

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