28.3.2023 • Corporate News
<Bielefeld/Trierweiler, March 28, 2023> The Dr. August Oetker Nahrungsmittel KG intends to acquire Galileo Lebensmittel KG, a Trierweiler-based company specializing in frozen pizza snacks. Corresponding contracts were signed on March 23, 2023. The transaction is subject to regulatory approval.
With the planned acquisition, Dr. Oetker intends to expand its presence in the frozen pizza snacks market segment. Founded in 1993, the family-run Galileo Lebensmittel KG has in-depth know-how in this area and is represented with its products in several European countries. With the takeover of 100 percent of the company shares, Dr. Oetker is acquiring the production facility in Trierweiler and taking over all 200 employees of Galileo Lebensmittel KG. The parties have agreed not to disclose the purchase price. Galileo Lebensmittel KG will continue to be run operationally as an independent company by the existing management.
"For Dr. Oetker, the planned acquisition of Galileo represents a significant expansion of our presence in the pizza snacks sector. We are pleased to be able to add Galileo Lebensmittel KG to our group, a company that, as a family-owned business, fits Dr. Oetker's values, goals and strategy very well," explained Dr. Albert Christmann, spokesman for the Dr. August Oetker Nahrungsmittel KG management board.
"We are looking forward to future cooperation under the Dr. Oetker umbrella," said Stefano La Vecchia, founder and CEO of Galileo, adding, "Galileos's business will not change. We will continue to be a reliable, high-performance and innovative partner for our customers. Galileo will remain as it is: the original!".