Turatti (Taste of Italy of DeA Capital) acquires Tecnoceam
A large company is born involved in the processing of fresh-cut vegetables
Turatti Srl, a company owned by the Taste of Italy funds of DeA Capital Alternative Funds Sgr and EC I of Entangled Capital, has finalized the acquisition of 100% of Tecnoceam Srl, one of the main Italian competitors in the design of machines and complete lines for the preparation of fresh fruit and vegetables. With this operation, a company was born, engaged in the technologies for the processing of IV range vegetables, with a consolidated turnover of 35 million and a customer portfolio that includes the main operators in the sector in Europe, North America, Japan and Australia.
With about 10 million Euros of revenues, 50% of which are generated abroad, the Italian company represents the ideal partner for the company owned by the Taste of Italy funds, which on the one hand will be able to count on a strengthening of the portfolio of technologies for the V range and the processing of pesto, and which in turn will provide access to the North American market in which it has had a consolidated presence for over 10 years. The operation takes the form of the purchase of 100% of the share capital of Tecnoceam by Turatti. The shareholders of the Italian company will reinvest in Turatti alongside the Taste of Italy and EC I funds.
The latter has also started the construction of a new production plant in Cavarzere (Ve) at the forefront in terms of efficiency and environmental sustainability which, together with the Tecnoceam plant in Collecchio (Pr), will lead to a doubling of the Group's production capacity. Enrico Gribaudo, CEO of Turatti, commented: "this transaction is strategically essential for both companies to maintain technological leadership and continue to offer innovative and sustainable solutions to their customers". Luca Spaggiari, president and CEO of Tecnoceam, commented: “we believe that our partner is perfect for making the most of the company's know-how thanks to the high experience of the management team and a solid shareholding structure”.
EFA News - European Food Agency