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About Us
Our Businesses
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When Associated British Foods acquired Acetum in 2017 we proudly added the world’s leading producer of certified Balsamic Vinegar of Modena PGI to an already strong portfolio of grocery staples. The acquisition of Acetum illustrates perfectly our strategic approach to building our brands as well as the benefits of ABF’s decentralised operating model and the fact that we celebrate the independence and distinct cultural identities of our individual businesses.
Over the past five years we have worked with the founders of this wonderful business to invest in growing and building the Mazzetti brand, which is symbolic of Italian culinary culture and consumed globally as a complement to salads and fresh foods that are recognised as central to a healthy and well-balanced diet.
Balsamic vinegar has been produced in the Modena region of northern Italy since Roman times and, in the more recent era, with its status as a Protected Geographic Indication (PGI) product, the category and the range of products have become a well-loved and essential addition to food lovers’ pantries around the world.
The production of Balsamic Vinegar of Modena PGI is tightly controlled in order to preserve the tradition and craft that ensure the final product meets the standards required to be labelled and sold accordingly. Just seven different Italian grape varieties can be used, and all Balsamic Vinegar of Modena PGI can only ever be made from a blend of just two ingredients: Grape Must and Wine Vinegar.
After the blending process is complete, the law decrees that the liquid is then required to be matured in wooden barrels. This maturation phase differs according to the final classification of the product, but all Balsamic Vinegar of Modena PGI spends a minimum of 60 days resting in wooden barrels before being certified by an external body and approved for bottling. For the more premium products labelled as ‘Invecchiato’, or ‘aged’ in English, the product needs to remain in wooden barrels for at least three years, where it continues to ferment, increases in density, and develops a more rich and complex flavour profile, taking on more of the wood notes from the barrels.
The ability to grow the Mazzetti brand is therefore heavily linked to the total capacity of wooden vessels in which we mature our Balsamic Vinegar of Modena PGI prior to bottling. This is particularly relevant for the sought-after ‘Invecchiato’ product, which commands a premium price that is commensurate with the significantly longer duration of ageing that is required in order to deliver its superior flavour.
On acquisition, Acetum already had the largest ageing capacity in the industry with 14.8 million litres. During 2022, ABF invested in expanding this capacity even further, adding 4.8 million litres with the addition of new oak barrels that are housed in a newly acquired 8,000 sq m facility, located adjacent to the bottling plant in Acetum’s hometown of Cavezzo, close to Modena. This investment further strengthens the business’s capacity for future growth of the Mazzetti brand. It also supports the strong growth agenda for both matured (60 day) and aged (three year) products in response to growing global consumer and customer demand for richer and more complex ‘Invecchiato’ Balsamic Vinegar of Modena PGI.
Acetum has continued to achieve strong growth since acquisition. The ambition to build a premium global brand with Mazzetti l’Originale is also reflected in the performance of the ‘Invecchiato’ offering which has delivered a very strong compound profit growth over the same period of time.
The superior taste of the aged Mazzetti l’Originale Gold Label was recognised in the 2021 Great Taste Awards in the UK, winning a coveted 3-star award and generous praise from the judges.
The critical nature and role of the ageing process were also reflected in Acetum’s investment in building the brand awareness of Mazzetti l’Originale, with a new distinctive identity and advertising. This campaign included a television commercial representing ‘The Italian Art of Dressing’ which aired in the UK, Australia and Germany throughout 2022, highlighting the ageing process as the crucial feature in the delivery of the superior flavour and showcasing the Mazzetti barrels alongside our highly skilled ‘Cellar Master’, Enrico Lugli, at work in the acetaia (vinegar cellar).