U.S.-based representatives of Golfetto, Sangati equipment discuss a merger
January 01, 2000
by Stormy Wylie
PADOVA, ITALY — Within weeks of the announcement that a 50% share in Golfetto, S.p.A., would be purchased by the Bernardi family of Italy, which also owns Sangati Berga, two U.S.-based companies that act as sole representatives of these Italian flour milling equipment companies — Cereal Technologies, Inc. (CETEC) and Sebatec America, Inc. — also announced they had agreed to explore a merger.
Under the agreement, which is still being negotiated, CETEC, which is based in Millersville, Maryland, and the Lenexa, Kansas-based Sebatec would be merged into one company, which would act as the sole U.S. representative for both the Golfetto and Sangati Berga lines of equipment.
This merger agreement, which was backed by shareholders of Golfetto and Sangati Berga, will "provide a broader presence and level of customer service," the companies said in a joint announcement.