Piovan Group, backed by Investindustrial, has agreed to acquire Aasted, a supplier of process equipment and automation for the confectionery and bakery sectors. The purchase expands Piovan’s Food & Powders division, pushing its revenue toward €200 million. Aasted operates plants in Denmark and the United States, supported by service offices worldwide.

Aasted’s footprint spans production sites in Denmark and the US, with service offices across Europe, the Americas and Asia. By adding Aasted’s expertise, Piovan aims to scale its food processing unit and enter new market segments. The deal follows Piovan’s 2015 entry into the food sector and a series of strategic acquisitions and strengthen supply chains.

Investindustrial’s backing gives Piovan access to capital and a network of industry contacts, positioning the combined entity to drive innovation in confectionery and bakery automation. The acquisition signals confidence in growth prospects for food processing technology and may prompt further consolidation in the sector. Market analysts expect the merger to raise European market share by 10% and boost R&D capabilities.