Italian investment firm Fondo Italiano d’Investimento has acquired a majority stake in local cured meat manufacturer Trinità Spa Industria Salumi through its subsidiary Fondo Italiano Agri&Food (FIAF).

The business said the transaction is aimed at supporting the founders in the company’s development process.

Financial details of the deal were not disclosed. The transaction is expected to close by August.

FIAF is Fondo Italiano’s sector vehicle with which the investment firm aims to support the “excellence of the Italian agri-food supply chain”. The company said it will aim to consolidate Trinità’s position in the Italian foodservice market and increase its focuson foreign markets.

Fondo Italiano added that it plans to streamline the meat business’s internal processes..

The investor confirmed Danio Sarzi Amadè and Sergio Verdelli Saccani will continue to lead the meat producer as president and vice president, respectively. Both roles will be supported by operational delegations from the FIAF team.

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Fondo Italiano added that the Mazzurega family will also remain involved with the company.

Verdelli Saccani, founding partner of Trinità said: “For the future, we see multiple possibilities for growth. And because of that, we wanted to adjust the governance of the company, to add further skills and quality, giving further impetus [power] to our group.

T”he experience of Fondo Italiano, and FIAF, within the agri-food sector has certainly represented a key element in making this decision. The idea shared with our new partners is simple, but very clear: we want to create a group that has a national leadership in our segment and a strong propensity abroad, all while maintaining the same values ​​and the same team spirit that has always distinguished us.”

Pier Felice Murtas, senior partner at FIAF said: “The cured meats sector in our country is a fragmented one, characterised by the presence of numerous small players specialising in market niches. And Trinità, due to its size and characteristics, represents the ideal reality to start appropriate aggregation processes, to compete increasingly also on foreign markets.

“In over 40 years of history, Trinità and its founding partners have demonstrated their ability to invest with foresight, successfully aggregating other companies in the sector and becoming a leading player in the Italian panorama.

“Now, with this new partnership, a new phase of development for the company begins.”

Trinità, founded in 1982, has grown through making seven acquisitions in its domestic market.

It has five production sites in the Veneto, Lombardy and Marche regions of the country.

In 2023 its revenues grew by more than 30% to approximately €70m ($75.8m).

Trinità serves the foodservice channel in Italy through its brands and its private-label offering.

In March, Fondo Italiano acquired a majority stake in pasta maker Pasta Berruto.

And last week it joined forces with nother local investor, Wise Equity, to buy bakery products manufacturer Casa della Piada.