Italian Pasta Company De Cecco Eyes IPO
Italian specialty food company De Cecco has picked UniCredit and Credit Suisse to help it prepare for an initial public offering (IPO) of its shares, Reuters reported.
Known for its durum wheat pasta, De Cecco also sells olive oil, pasta sauce and rice and more. The family owned company is run by two chief executives and a chairman picked among the different branches of the De Cecco family.
This is the second time the company has looked into going public. De Cecco, which dates back to 1886 in San Martino, Italy, had considered an IPO about 10 years ago, but the plan was put on hold during the global financial crisis in 2008. Known for its durum wheat pasta, De Cecco also sells olive oil, pasta sauce and rice.