The shareholders of ABL sold 100% of the company to Gulftech International.
ABL, founded in 1978 and based in Cavezzo (Modena), is leader in the design, production and sale of fruit processing machines, mainly in the “fresh cut” segment. The company is the fourth player in terms of market share globally. ABL was backed by the financial investor Itago as a minority shareholder after 2015, while the founding family (Ascari) held the majority and managed the company.
Gulftech International is a leading U.S. group, with several companies specializing in the production of food processing machinery.
The transaction was part of the growth process of Gulftech International by M&A and enables ABL to hand over from one generation to the next. The financial investor exited and the company joined an international group with global development goals.
Corus assisted the Ascari family and the Itago fund throughout the sales process and in the reinvestment of the Ascari family in Gulftech International.