London-based Crosta Mollica has merged with the European Pizza Group, the frozen pizza business spun off by Nestlé three years ago, creating a combined entity with €1bn in retail sales. The deal joins the premium UK pizza maker with a portfolio that includes the Wagner and Buitoni brands, which currently supply ten European markets.
Crosta Mollica, which is positioned at the premium end of the UK market, said the combination will create a highly complementary portfolio. The European Pizza Group operates manufacturing in Germany and Italy, while Crosta Mollica uses a co-production partner in Italy to support its Made in Italy brand credentials. Executive chairman David Milner stated that the merger allows the group to leverage the scale and capabilities of the combined business to accelerate growth.
Financial accounts filed with Companies House in London for the year ending June 2025 showed Crosta Mollica generated a turnover of £67.6m ($89.7m), up from £49.2m in the previous year. Operating profit increased to £7.6m from £4.2m, and net profit more than doubled to £8.1m from £3.3m. In a statement revealing the merger on 23 September, the company reported that its retail sales have risen to €270m from €90m since Milner and current CEO Tom Sirett joined in January 2024.
Following the transaction, both companies will continue to operate as separate businesses. Milner will serve as CEO of the combined group, while Sirett remains chief executive of Crosta Mollica and Matthias Casanova stays on as CEO of the European Pizza Group. The statement noted there are no short-term plans to change the operating model of either company, describing the timing as favorable for the European pizza market.
Investor interests remain split among several parties. Perwyn, a European private-equity firm that backed Crosta Mollica in 2024, will continue to be involved in the combined business alongside Nestlé and PAI Partners. When Nestlé announced the spin-off of its European frozen-pizza assets in 2023, it stated it would retain a non-controlling stake alongside PAI Partners. At that time, the annual turnover of Nestlé’s European pizza business was reported at SFr400m ($485.9m), supplying markets including Germany, Italy, France, Spain, Switzerland, and Portugal.