Nestle-backed pizza producer bakes bid for Crosta Mollica

Friday, 28 August 2026 14:50

By Mark Kleinman, City editor

A joint venture part-owned by Nestle, the global food and consumer goods giant, is closing in on a deal to buy Crosta Mollica, the premium pizza brand.

Sky News has learnt that European Pizza Group, which is owned by Nestle and PAI Partners, the private equity firm, is hopeful of securing exclusive talks to buy Crosta Mollica as soon as next week.

City sources said Crosta Mollica was expected to fetch a price of well over £300m.

Money latest: The fake hotel review warning signs

They added that other parties remained in contention to buy Crosta Mollica and cautioned that a deal had yet to be signed.

European Pizza Group, which was established in 2023 as the home of Nestle's frozen pizza business in Europe, faced competition to buy Crosta Mollica from rival bidders including London-listed Premier Foods.

Crosta Mollica is owned by the private investment firm Perwyn, which hired bankers from Harris Williams to field interest from potential buyers earlier this year.

The identity of other suitors for the business was unclear on Friday.

Crosta Mollica's auction comes at a time of intense activity in food industry mergers and takeovers.

Sky News revealed this week that the Colman's Mustard brand had been put up for sale as part of Unilever's multibillion-pound deal to merge its food operations with McCormick of the US.

PAI has been approached for comment.

Sky News

More from Business

US Federal Reserve chair Kevin Warsh gives clear signal of rate rise amid inflation threat in Jackson Hole speech

The US central bank "will have work to do" unless inflationary pressures recede, according to its Trump-appointed chair who was under pressure to signal if interest rates would rise in response.
Tech companies write open letter calling for collective action against AI-enabled cyber attacks

More than 100 companies have written an open letter calling for collective action to strengthen cyber defences amid a rise in AI-enabled cyber attacks.
Medicinal cannabis producer Grow Group tries to weed out buyer

A medicinal cannabis producer which distributes products in the UK and two other countries has appointed City advisers to find new owners.
Donald Trump signs order renaming Lake Ontario as 'Lake America' in the US

Donald Trump has said he will rename Lake Ontario as ⁠Lake America in the US following the escalating trade war with Canada.
Historic mustard brand Colman's spreads wings after £48bn Unilever deal

Colman's, the quintessentially English mustard brand founded more than 200 years ago, is being put up for sale following owner Unilever's landmark decision to offload its food operations for $15.7bn (£11.6bn).
Atom Bank to replace veteran chief who advocated four-day working week

The veteran who has run Atom Bank, Britain's first digital-only lender, is to step down just two months after an auction of the business failed to attract offers at an adequate level.
Nvidia: AI boom continues apace as world's most valuable company beats expectations

The world's most valuable company has again defied eye-watering forecasts, delivering a bumper set of financial results.
Meta agrees to pay up to $18bn to settle social media addiction trial

Meta has agreed to pay up to $18bn (£13.2bn) to dozens of US states to settle claims that its social media platforms harmed children.