Gradiente injects €1.8m into pasta maker Taste Italy

The Padova-headquartered GP invested from its second fund, Invest in Modena. The company aims to use the capital injection to support its expansion across Europe and North America.

Launched in 2014, the vehicle Invest in Modena raised €18m in commitments from several LPs, including €10m from Unicredit, €5m from Fondazione Cassa di Risparmio di Modena, €1m from Carimonte holding, €1m from Fondazione Cassa di Risparmio di Mirandola and €500,000 from Fondazione di Vignola.

The fund targets SMEs headquartered in Modena and its surrounding area with particular focus on businesses affected by the recent earthquake in 2012. The fund manager invests through equity and debt instruments, including convertible bonds. It recently penned its first transaction by acquiring a minority stake in auto parts producer Meta in 2015. The deal included a structured credit facility.

Company
Taste Italy is based in Modena and produces gluten-free egg pasta. Through its brand GustaMente, the company distributes across Italy, as well as Germany, France, the UK and the US.

The business is reported to generate a turnover of €4m in 2015.

People
Gradiente – Fabio Grasso (partner).
Taste Italy – Antonio Montanini (chair).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Venture
• Italy