MILAN, Sept 5 (Reuters) - Barilla, the world’s biggest pasta maker, will use the bulk of a fresh 700 million euro ($907 million) credit line for acquisitions and is already looking at targets in Latin America and in Europe, its chief financial officer Giangaddo Prati said on Friday.
“Most of the 700 million euros syndicated loan we have just announced will be dedicated to acquisitions to expand abroad,” Prati told Reuters in a phone interview. “We have some options open, we are evaluating targets both in Latin America and in Europe.”
The Parma-based company, which also produces pasta sauces and a large range of bakery products, said on Friday it had secured a 700 million euro loan from a pool of 13 banks for overseas expansion.
Prati added the company was looking at preys in the pasta and bakery sectors in Latin America, and was keen on expanding in European countries such us Britain where its presence was quite recent.
“An announcement could be made in the next few months,” he said.
1 US dollar = 0.7717 euro Reporting by Francesca Landini, editing by Danilo Masoni