Bakkavör has sold its controlling stake in a fresh prepared foods manufacturer.
Following the sale in May 2014 of 40 per cent of Italpizza, the foodservice giant's Italian pizza manufacturing business, to Dreamfood, which is now exercise the option to acquire the remaining 60 per cent of Italpizza.
The transaction is expected to be completed in the second half of 2015.
Dreamfood is an investment company controlled by Cristian Pederzini, the MD of Italpizza.
Italpizza primarily supplies the retail market, home delivery market, and foodservice companies across Europe and North America.
The company was established in 1991 and had a turnover of €40 million in 2007. It was acquired by Bakkavor Group in April 2008.