Alcedo, an Italian private-equity firm, has bought a controlling stake in local gnocchi maker Bertoncello.
It has taken a 70% stake in the family-owned business for an undisclosed sum.
Treviso-based Alcedo did the deal through its Alcedo IV Fund and it follows its acquisition in July last year of local ready foods manufacturer Eurochef Italia.
Alcedo said Bertoncello is keen to “achieve an important growth path in Italy and abroad, especially in the USA” and is eyeing acquisitions in its own right.
It added: “The Bertoncello family has identified Alcedo as the ideal partner to accompany it in the realisation of the generational change and subsequently guide the company towards the implementation of the development project.”
Filippo Nalon, a partner at Alcedo, said: “Bertoncello represents a formidable success story in one of the most dynamic market segments in the food sector
“Bertoncello is an example of Italian gastronomic excellence, with a product of unique quality appreciated by customers and consumers. We believe that the company has excellent chances of development, especially in foreign markets.”
Alcedo bought the stake in Bertoncello from its founding partners Francisco Angel Bertoncello and Nadia Parolin, as well as Bertoncello’s children Lisa and Fabian.
The latter, together with his brother Riccardo, have reinvested in Bertoncello through the family holding with a 22% share. Stefano Stanghellini, operating partner of Eurochef Italia, has also invested in the business.
Fabian and Riccardo Bertoncello will retain their roles within the company as CEO and production manager, respectively.
Fabian Bertoncello said: “Alcedo is the ideal partner to support growth of the company that, born from an artisan workshop of gnocchi production, aims to develop globally, while keeping intact the quality characteristics of the ingredients that have been the key to Bertoncello’s success.
“With the Alcedo team we share an important development plan through the expansion of the factories, the strengthening of the production capacity as well as the expansion of the range of products including the recent entry into the frozen gnocchi segment.”
Bertoncello, based in Romano d’Ezzelino, near Vicenza, dates back to the late 1990s when it was established as a family-run gnocchificio.
Its product range now includes more than 50 types of fresh, pre-cooked and frozen gnocchi, a type of pasta traditionally made from potato. It manufactures products under its own brand and on a private label basis.
In 2019, Bertoncello’s turnover was more than EUR18m (US$16.2m).