USA – Platinum Equity, a private equity firm based in the United States, announced its acquisition of a majority stake in Polli, an Italian producer renowned for pasta condiments and vegetable preserves.
This strategic move marks a significant milestone for both companies as they aim to enhance Polli’s global presence and operational capabilities.
Founded in 1872, Polli has established itself as a leading manufacturer of pasta sauces, olives, pickles, and condiments, distributing its products to over 50 countries.
The company is particularly noted for being one of the largest pesto producers in the European Union.
Polli operates four state-of-the-art facilities that collectively produce approximately 29,000 tons of vegetables and over 190 million packages annually.
Despite the acquisition, the founding Polli family will retain a minority stake in the business alongside CEO Marco Fraccaroli, who will continue to guide the company.
Managing director and a sixth-generation family member, Manuela Polli expressed enthusiasm about the partnership with Platinum Equity.
She stated, “We are excited to continue our ambitious journey with Platinum, an important partner who shares our company’s values and goals. We are confident that together we will take the business to a new level of global leadership.”
This sentiment reflects both parties’ commitment to maintaining Polli’s legacy while pursuing growth opportunities.
Platinum Equity co-president Louis Samson highlighted the firm’s expertise in supporting family-owned businesses.
He remarked, “Platinum has a lot of experience helping family-owned businesses leverage our M&A capabilities and global operating expertise to capitalize on market opportunities and maximize their potential.”
This acquisition aligns with Platinum’s broader strategy of investing in established brands with significant growth potential.
The financial specifics of the transaction have not been disclosed; however, this acquisition is part of Platinum’s ongoing strategy to expand its portfolio within the food sector.
The firm is already interested in various food-related companies, including Biscuit International in France and Fantini Group in Italy.
Additionally, Fernando Goni, managing director at Platinum Equity, noted the importance of Polli’s rich heritage.
He said, “We admire what the Polli family has built across six generations and more than 150 years.
‘’We believe this business presents a great platform to continue investing in organic growth and pursue additional acquisitions that can expand or fill in gaps in the company’s product lines.”
This indicates that Platinum aims to maintain and enhance Polli’s market position through strategic investments.
As both companies embark on this new chapter together, they are poised to leverage their combined strengths to navigate challenges and seize opportunities within the competitive food industry.
The collaboration aims to fortify Polli’s brand while exploring avenues for expansion into new markets.
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