Italian investment fund Fondo Italiano d’Investimento has acquired a majority stake in pasta maker Pasta Berruto.
Fondo Italiano d’Investimento has acquired a 60% stake in the Turin-based pasta producer from Webcor Investments, an agro-industrial investment group.
Financial details were not disclosed.
The holding group carried out the acquisition through its Italian Agri and Food Fund (FIAF), marking its second investment. The fund said it will support Pasta Berruto’s efforts to increase production capacity, invest in innovation and “further strengthening abroad”.
Stefano Berruto, CEO of Pasta Berruto, said: “With enthusiasm and pride, we announce the new strategic partnership with FIAF. This collaboration marks an exciting chapter in our history of excellence in the production of high-quality Italian pasta. This important step represents a joint commitment for a future of growth, thanks to the precious contribution of all those who embody the passion and competence that characterise our company.”
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Pasta Berruto mainly produces dry durum wheat semolina pasta. It was formed in 2004 by the merger of two pasta factories, Arrighi and Italpasta, owned by the Berruto family. It makes private-label and branded products and is present in around 100 countries.
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By GlobalDataIn 2023, it generated €64.4m ($70.2m) in revenue, with over 90% of that revenue coming from overseas sales. The company employs a total of around 70 workers and has nine production lines which produce around 65,000 tonnes of products per year.
Pier Felice Murtas and Marco Pellegrino, senior partners of FIAF, said: “We are proud to support Pasta Berruto and the entrepreneurial family of the same name, who have always guided the company with great passion and dedication, in this new phase of growth.
“Thanks to the partnership with FIAF, Pasta Berruto will have the resources to further accelerate its development, both through increasing production capacity and thanks to product innovation, and will be able to further increase its leadership on international markets.”
The brothers Stefano and Matteo Berruto, respectively current CEO and plant manager, together with their sister Anna Maria Berruto, will remain within the company as minority shareholders and will maintain operational roles.
The transaction is expected to be completed by next month.
