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Taste of Italy 2 invests in Serroplast

Acquired 59% of a company producing roofing systems for table grape cultivation

Taste of Italy 2, a private equity fund specialized in the agri-food sector managed by DeA Capital Alternative Funds Sgr, has acquired 59% of Magel Srl (Serroplast) with the aim of accelerating its growth also through international development.

Serroplast was established in 1987 by the Borracci family and creates roofing systems for the cultivation of table grapes and other fruits. Serroplast includes a wide and technologically advanced product range including multi-season films, nets, accessories, with the possibility of creating turnkey structures, capable of satisfying all customer needs. The use of vineyard covering systems, especially for the cultivation of table grapes, is considerably widespread in Italy and growing rapidly abroad, in particular in Spain, South America (Chile and Peru), South Africa and Australia.

Among the main advantages deriving from the use of Serroplast covering systems are the increase in the productivity of the cultivated areas and the quality of the fruit, the protection of the fruit from adverse environmental climatic conditions and the reduced use of water resources and fertilizer products with positive environmental impact. Serroplast offers its customers a 360-degree service, with the help of strategic partners such as technical consultants, agronomists, installers.

Serroplast is a reference player worldwide and the numerous customers served operate in over 10 countries. The top foreign markets are Peru, Chile, Spain and South Africa. Serroplast is based in Rutigliano (BA), where it operates through two production plants with c. 10,000 m2 covered, and is also present in Chile and Portugal through commercial companies.

Taste of Italy 2 will support the company in consolidating its global leadership by strengthening the managerial and commercial structure, penetrating new markets and expanding coverage systems to adjacent segments such as cherry, blueberry and kiwi cultivation.

The Borracci family will maintain a 41% stake alongside Taste of Italy 2. Giuseppe and Stefano Borracci will continue their activity in the company, respectively, with the roles of CEO and Sales Manager.

“Serroplast is a splendid story of a family business born almost 40 years ago from the skills of Nicola Borracci , then developed by his sons Giuseppe and Stefano ", commented Stefano Caspani , Managing Director of Taste of Italy 2. "We are proud to become part of it alongside the Borracci family and we will put our skills in the agri-food sector at the service of the company to seize the interesting development opportunities at an international level, encouraging the creation of a management team to support the project".

For his part, Giuseppe Borracci , CEO of Serroplast, said: “We are convinced that with the support of Taste of Italy 2 we will accelerate Serroplast's growth path, both on the national market and on foreign markets, consolidating our positioning, maintaining the quality level of our services and further intensifying the research and development activity that has always supported our ability to lead the technological development of the sector".

Stefano Borracci , sales manager of Serroplast, finally stated: “Serroplast is an Italian excellence, universally recognized in the sector of covering systems for table grape cultivation. With the entry of Taste of Italy 2 we intend to strengthen the managerial and commercial structure in order to consolidate our leadership position in Italy and compete more effectively on international markets".

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EFA News - European Food Agency