Pernigotti

Pernigotti is an Italian confectionery brand and manufacturer based in Novi Ligure, in the Piedmont region. Its identity is closely associated with the area's hazelnut and chocolate tradition, particularly gianduiotto, the Piedmontese chocolate-and-hazelnut confection for which Pernigotti is one of Italy's best-known producers. The portfolio has also included chocolate bars and pralines, nougat, Easter eggs, chocolate spreads and semi-finished ingredients for gelato and pastry production. The business began in 1860 as a grocery shop founded by the Pernigotti family in Novi Ligure. Over the following decades it developed into a confectionery producer whose reputation extended beyond the local market. In 1882, King Umberto I granted the company permission to use the royal coat of arms on its factory insignia, an honor that became part of the brand's historical positioning. The company remained under family ownership for five generations. During the First World War, restrictions on sugar presented a major production challenge, but Francesco Pernigotti adapted the nougat recipe by using a higher concentration of honey. This episode became part of the company's narrative of craftsmanship and product innovation. Pernigotti's most recognizable product line is its Gianduiotto, whose production is generally dated to 1927. Other long-standing names associated with the brand include Cremino, Pepitas and Nocciolato. These products place the brand in the premium and traditional segment of Italian chocolate, relying on heritage, recognizable formats and the association between Piedmontese hazelnuts and chocolate rather than on mass-market positioning alone. The company experienced significant structural changes in the late twentieth and early twenty-first centuries. A period of crisis in the 1980s led to the sale of the Sperlari business to H.J. Heinz in 1981. In 1995, after the end of the Pernigotti family's direct ownership, Stefano Pernigotti sold the company to the Averna family, known primarily for alcoholic beverages. The Averna family subsequently sold Pernigotti on 11 July 2013 to the Turkish Toksöz group, which had interests in confectionery, pharmaceuticals and energy. Pernigotti's ownership transition was accompanied by pressure on its manufacturing model. In November 2018, Toksöz announced plans to close the principal Novi Ligure plant, prompting concern over approximately 200 jobs and the future of production in Italy. Reports differed over whether manufacturing would move to Turkey or be outsourced to other Italian facilities. In 2019, the Ice & Pastry branch was sold to Optima Group, including the Pernigotti Maestri Gelatieri Italiani brand. This separated part of the ice-cream and pastry business from the core chocolate operation. Toksöz later sold its entire holding in Pernigotti to JP Morgan Asset Management in 2022. Production at the historic Novi Ligure facility resumed after the acquisition. In July 2023, Invitalia entered the company's share capital with a 25% minority stake. Pernigotti therefore remains an active Italian confectionery name with a long manufacturing history, although its ownership and operating structure have changed substantially from the family-controlled business of the nineteenth and twentieth centuries.

Pernigotti traces its origins to 1860, when the Pernigotti family established a grocery business in Novi Ligure, Piedmont. The company gradually developed into a confectionery manufacturer and became associated with the regional tradition of combining chocolate with hazelnuts. By 1882, its quality and reputation were sufficiently established for King Umberto I to grant permission for the royal coat of arms to appear on the company's factory insignia. The First World War created a serious constraint because the Italian government prohibited the use of sugar in confectionery production, including nougat. Francesco Pernigotti responded by increasing the proportion of honey in the recipe. Rather than simply suspending production, the company used the shortage to develop a nougat with a distinctive consistency. In 1919, Paolo Pernigotti succeeded his father Francesco in leading the business. The end of the Second World War brought another major disruption: the main production plant was destroyed. Pernigotti subsequently moved its headquarters and manufacturing activity to the factory in central Novi Ligure that became central to the brand's later history. The company continued to build its identity around traditional chocolate and confectionery. Gianduiotto production began in 1927, and the brand later became associated with Cremino, Pepitas, Nocciolato, nougat, Easter eggs and other chocolate products. The company remained in Pernigotti family hands for five generations. In the 1980s, however, it entered a period of crisis. The Sperlari business was sold in 1981 to H.J. Heinz, marking an early separation of a major confectionery activity from the wider group. In 1995, Stefano Pernigotti sold Pernigotti to the Averna family after the end of the family's direct succession. The Averna family was known for its alcoholic-beverage businesses and held Pernigotti until 2013. On 11 July 2013, the Averna family sold Pernigotti to the Turkish Toksöz group. The new owner operated across confectionery, pharmaceuticals and energy, and the change brought Pernigotti into an international corporate portfolio. Under Toksöz, the company faced financial and operational pressure. In November 2018, Toksöz announced that the Novi Ligure plant would close, with reports describing the potential loss of around 200 jobs. Contemporary accounts disagreed about the proposed manufacturing solution: some associated the plan with a transfer of production to Turkey, while others described possible outsourcing within Italy. The dispute illustrated the tension between maintaining a historic Italian manufacturing base and restructuring a business under pressure. In 2019, Pernigotti sold its Ice & Pastry branch to Optima Group. The transaction included the Pernigotti Maestri Gelatieri Italiani brand and separated the ice-cream and pastry-oriented activity from the core chocolate business. Stefano Pernigotti died in 2020 at the age of 98. In 2022, Toksöz sold its entire shareholding in Pernigotti to JP Morgan Asset Management. Following the acquisition, production resumed at the historic Novi Ligure facility. In July 2023, Invitalia acquired a 25% minority stake. Pernigotti consequently entered a new phase in which its historic Italian production identity was retained while ownership became institutional and its activities were organized after the disposal of the Ice & Pastry branch. The brand remains active and is identified primarily with traditional Italian chocolate, especially gianduiotti, as well as nougat, Easter products and related confectionery.

• 2023

  Invitalia becomes a minority shareholder

  [1]Pernigottien.wikipedia.org

  Invitalia enters the share capital with a reported 25% minority stake.

• 2022

  Acquisition by JP Morgan Asset Management

  [1]Pernigottien.wikipedia.org

  JP Morgan Asset Management acquires the entire shareholding from Toksöz, after which production resumes at the historic Novi Ligure plant.

• 2019

  Ice & Pastry branch sold

  [1]Pernigottien.wikipedia.org

  Optima Group acquires Pernigotti's Ice & Pastry branch and the Pernigotti Maestri Gelatieri Italiani brand.

• 2018

  Novi Ligure plant closure plan

  [1]Pernigottien.wikipedia.org

  Toksöz announces plans to close the main Novi Ligure production facility, leading to concern about jobs and Italian manufacturing.

• 2013

  Acquisition by Toksöz

  [1]Pernigottien.wikipedia.org

  The Averna family sells Pernigotti to the Turkish Toksöz group.

• 1995

  Family ownership ends

  [1]Pernigottien.wikipedia.org

  Stefano Pernigotti sells the company to the Averna family after five generations of Pernigotti family ownership.

• 1981

  Sperlari is sold to H.J. Heinz

  [1]Pernigottien.wikipedia.org

  During a period of business crisis, the Sperlari activity is sold to the American H.J. Heinz Company.

• 1927

  Gianduiotto production begins

  [1]Pernigottien.wikipedia.org

  The company begins production of the gianduiotto, which becomes its signature confection.

• 1919

  Paolo Pernigotti takes leadership

  [1]Pernigottien.wikipedia.org

  Paolo Pernigotti succeeds his father Francesco at the head of the company.

• 1914

  Honey-based nougat innovation

  [1]Pernigottien.wikipedia.org

  Sugar restrictions during the First World War lead Francesco Pernigotti to formulate nougat with a greater concentration of honey.

• 1882

  Royal coat-of-arms privilege

  [1]Pernigottien.wikipedia.org

  King Umberto I grants the company permission to use the royal coat of arms on its factory insignia.

• 1860

  Pernigotti family establishes the business

  [1]Pernigottien.wikipedia.org

  The business begins as a grocery shop in Novi Ligure, Piedmont, and later develops into a confectionery manufacturer.

A heritage Italian confectionery brand positioned around Piedmontese chocolate-making, hazelnuts, traditional recipes and premium everyday gifting. Its historical reputation and gianduiotto specialization distinguish it from purely mass-market chocolate brands.

• Chocolate confectionery · 1927

  Gianduiotto

  Pernigotti's signature gianduiotto is a Piedmontese chocolate-and-hazelnut confection traditionally associated with an angular or boat-like shape. The line represents the brand's strongest connection to regional ingredients, Italian confectionery heritage and premium chocolate gifting. Production is documented as beginning in 1927.

• Chocolate confectionery

  Cremino

  Cremino is a traditional layered or filled chocolate confection associated with the Piedmontese chocolate tradition. Within Pernigotti's portfolio it forms part of the long-standing range of recognizable Italian chocolate specialties alongside Gianduiotto and Nocciolato.

• Chocolate confectionery

  Pepitas

  Pepitas is one of the established Pernigotti product names cited in descriptions of the company's best-known chocolate range. It sits within the brand's traditional confectionery portfolio rather than representing a separate business division.

• Hazelnut chocolate

  Nocciolato

  Nocciolato is Pernigotti's hazelnut-oriented chocolate offering. Its name and formulation connect the product with Piedmont's celebrated hazelnut culture and reinforce the brand's emphasis on chocolate products in which nuts are a central sensory and regional marker.

• Nougat and confectionery · 1914

  Nougat

  Nougat has been part of Pernigotti's manufacturing identity since the company's early history. During the First World War, sugar restrictions prompted a honey-concentrated recipe innovation, making nougat an important example of the brand's adaptation of traditional confectionery methods.

• Seasonal chocolate

  Easter eggs

  Pernigotti produces seasonal Easter chocolate products as part of its broader confectionery range. These products extend the brand's chocolate expertise into gifting and holiday consumption, alongside its year-round pralines, bars and hazelnut specialties.

• Professional food ingredients

  Semi-finished gelato and pastry ingredients

  The company has also produced semi-finished ingredients used to prepare gelato, including basic cream preparations, as well as materials for pastry applications. This activity was connected with the Ice & Pastry branch, which was sold to Optima Group in 2019.

• 2023

  Invitalia takes a 25% minority stakeM&A

  Background

  Following the change in control and the resumption of production, the ownership structure was expanded to include Italy's Invitalia investment agency.

  Action taken

  Invitalia entered the share capital with a reported 25% minority holding.

  Aftermath

  Pernigotti continued under JP Morgan Asset Management's ownership with Invitalia as a minority shareholder.

  Source

• 2022

  Sale from Toksöz to JP Morgan Asset ManagementM&A

  Background

  After a period of operational and ownership uncertainty, Toksöz sold its entire holding in the brand.

  Action taken

  JP Morgan Asset Management acquired Pernigotti and production subsequently resumed at the Novi Ligure plant.

  Aftermath

  The acquisition restored activity at the historic facility while placing the brand under institutional ownership.

  Source

• 2019

  Sale of the Ice & Pastry branchM&A

  Background

  Pernigotti reorganized its activities while addressing the future of its manufacturing and professional gelato businesses.

  Action taken

  The Ice & Pastry branch was sold to Optima Group, including the Pernigotti Maestri Gelatieri Italiani brand.

  Aftermath

  The transaction separated the gelato and pastry-oriented activity from the core Pernigotti chocolate operation.

  Source

• 2018

  Plan to close the Novi Ligure factoryStrategy

  Background

  Toksöz announced the intended closure of the historic production facility amid reported business losses and declining turnover.

  Action taken

  The company announced a plan to close the main plant, with reports indicating that approximately 200 jobs could be affected. Accounts differed over whether production would move to Turkey or be outsourced within Italy.

  Aftermath

  The plan generated substantial concern about employment and the preservation of Italian production. Production later resumed at the historic plant after its acquisition by JP Morgan Asset Management.

  Reported accumulated losses and turnover. Accumulated losses of €13 million over the preceding five years; turnover reported at €75 million before declining → Turnover reported at €50 million (Reported in 2018, covering the preceding five years and the contemporaneous decline)

  Source

• 1914

  Reformulation of nougat during sugar restrictionsProduct launch

  Background

  Government restrictions during the First World War prohibited the use of sugar in confectionery, threatening the production of nougat.

  Action taken

  Francesco Pernigotti increased the concentration of honey in the recipe, creating a nougat with a distinctive consistency.

  Aftermath

  The adaptation became part of Pernigotti's history of product craftsmanship and wartime innovation.

  Source

1. 1Pernigottien.wikipedia.org