De Cecco is an Italian company producing dried pasta, flour and other related food products. It is the third-largest manufacturer of pasta in the world.[1]
 | |
| Industry | Food |
|---|---|
| Founded | 1886 |
| Headquarters | Fara San Martino, Abruzzo, Italy |
| Products |
|
History
editThe company was founded in 1886 by the De Cecco brothers in the small town of Fara San Martino in the Abruzzo region of central Italy. Nicola De Cecco originally produced flour at his stone mill before establishing the pasta factory.[2]
In 1908, the company adopted a country girl carrying two wheat sheaves as its trademark. After World War II, the factory was rebuilt after being destroyed by German bomb attacks. In 1950, De Cecco completed a new factory in Pescara to meet the increased demand that occurred after the war. In 1980, a new production facility was opened in Fara San Martino, doubling the company's production output. In 1986 the company began to diversify its offerings by establishing its olive oil brand. De Cecco offerings have since expanded to sauces, grains and tomato based products.[3]
As of 2013, De Cecco is the third-largest pasta producer in the world.[4]
In 2016, turnover reached 447.5 million euros, up by 5.7%, with EBITDA increased by 18% to 49 million and gross profit of 19% to 56 million. The 24 shareholders of the parent company span the third to the fifth De Cecco generations, divided into three family branches. At the April meeting, the go-ahead was given to the plan to float on the stock exchange. A plan that provided for the reorganization of the group with the entry of external managers, in particular a CEO, also in view of an expansion in the USA. As early as 2007, the opening on the stock exchange was considered, an operation then frozen by the economic crisis in 2008.[5] In March 2018, after closing 2017 with 436 million in revenues and an Ebitda of 50 million, the company approved the change of governance. In June 2018, leadership was entrusted for the first time to an external manager, Francesco Fattori (formerly Findus Italia)[6] who remained in office only until 3 May 2019, the date on which the owner removed him from office due to disputes on mandate obligations.[7]
After the Russian invasion of Ukraine in 2022, De Cecco continued its sales and operations in Russia. The company has reported that it generated over $35 million in revenue in Russia.[8][9]
See also
edit
Further reading
edit- Pasta De Cecco. Una storia di qualità. Cierre Edizioni, 2006. ISBN, 8883143876.
References
edit- ^ "De Cecco: How a Love of Pasta Conquered the World". iItaly.org. Retrieved 2020-04-10.
- ^ Augusta Consorti; Luciano D'Amico; Massimo Sargiacomo (2 March 2016). "Accounting and Management in the Pasta Industry. The De Cecco Case (1886–1955)". Accounting and Food: Some Italian Experiences. Routledge, 2016. pp. 42–68. ISBN 978-1317228431.
- ^ Paola Pierucci (24 September 2009). "L'impresa familiare in Abruzzo. Il caso della De Cecco". L'impresa familiare nel Mezzogiorno continentale fra passato e presente. Un approccio interdisciplinare. Franco Angeli, 2007. ISBN 978-8856819373.
- ^ Andrea Guccione (16 December 2013). Consuma meridionale: Un manifesto per il sud. Imprimatur, 2013. ISBN 978-8868301132.
- ^ "Pasta De Cecco porta la tavola in Borsa". 11 April 2017. Retrieved 17 December 2017.
- ^ "Gruppo De Cecco, Francesco Fattori è il nuovo Ad". 18 June 2018. Retrieved 31 July 2019.
- ^ "Gruppo De Cecco revoca Francesco Fattori come AD". 3 March 2019.
- ^ Scarci, Emanuele (2023-11-20). "L'export trascina al record i ricavi di De Cecco". Distribuzione Moderna (in Italian). Retrieved 2024-12-05.
- ^ "Over 400 companies have withdrawn from Russia - but some remain". Bizcommunity. Retrieved 2024-12-05.
External links
edit
 | This Italian corporation or company article is a stub. You can help Wikipedia by expanding it. |