Belgian private equity fund Verlinvest has taken a 24.5% stake in leading Italian tomato processing company Mutti.
In a statement, the Parma-based company said that, in recent years, it has recorded strong growth in international markets, generating about 30% of its sales abroad. As a result, it now has a "leading position" in several countries, including France, Scandinavia and Australia.
With the new resources brought by the private equity fund, which is also one of the main shareholders of beer giant AB-InBev, Mutti plans to invest in strengthening its international team, its 'brand awareness', the development of new products based on tomatoes and its production capacity in Italy.
The arrival of Verlinvest, thanks to its global network in the consumer goods sector, could act as a catalyst for the expansion of the brand Mutti.
Mutti is the leading tomato processing brand in Italy, with a market share of 31%. It produces tomato pulp, passata (uncooked tomato purée), and concentrate. The family-run company has an annual turnover of €250 million.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
