Verlinvest buys 24.5% of Mutti

According to a statement, the company will use the fresh capital to boost its team and develop new tomato-based products as well as increase its production capacity. The Brussels-based investor will focus on bolstering the company's expansion across international markets.

Speaking to unquote", a source familiar with the situation says two investors' representatives will enter the company's board.

According to local press reports, the management team decided to let the investor enter the company's share in order to expand the business and prepare for an IPO on the Italian stock exchange.

Verlinvest is a family-owned investment holding company that currently manages €1.5bn in assets globally, primarily in the food & beverage, retail, hospitality, e-commerce and digital marketing sectors. The families invested in the fund have a joint controlling stake in beverage giant AB-InBev.

Established in 1889 and headquartered in Montechiaro, near Parma, Mutti produces packaged tomato products including tomato pulp, purée and paste. The company claims to have a 31% share in the Italian market, according to a statement.

Mutti generates 30% of its sales abroad, including in France, Scandinavia and Australia. The business employs a staff of 135 and generated a turnover of €234m in 2015, says the source.

Lazard, Eversheds and KPMG advised Verlinvest in the transaction, while Alantra and Riscozzi e Nobili advised the seller.

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• Topics
• Expansion
• Consumer
• Southern Europe
• Italy