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Platinum Equity, a global investment firm, has signed an agreement to acquire a majority stake in Polli, an Italian producer of pasta sauces and vegetable preserves
Founded in 1872, Polli is Europe’s largest producer of pesto as well as making other pasta sauces, oils, olives, pickles and condiments. The company operates four facilities that process 130 types of raw materials to produce 29,000 tonnes of vegetables and 190 million packages annually.
Commenting on the move, Platinum Equity co-president Louis Samson said: “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. Polli has built an exceptional brand with a proud heritage, and we look forward to working together to build on that legacy”.
Polli managing director Manuela Polli said: “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”.
Financial terms of the transaction were not disclosed.
Source: Platinum Equity
