Truffle producer Sabatino Tartufi has received investment from US-based private-equity firm Traub Capital Partners (TCP).
Financial details were not disclosed.
Family-owned Sabatino will use the funds to invest in its facilities and infrastructure while also improving distribution and increasing brand awareness.
The truffle company and New York-based TCP will also be in this investment by Three Hills Capital Partners (THCP), which has offices in the UK, Italy and Luxembourg.
Founded in 1911, Sabatino is a producer, importer and distributor of truffle-based products with manufacturing sites in Connecticut, US and in the Italian region of Umbria. The company employs over 100 people across both plants. It also has branch offices in five locations throughout the US as well as Canada, Japan and Hong Kong.
Sabatinos CEO Federico Balestra said: “TCP is the ideal partner for Sabatino as they have a history of backing companies in the aspirational lifestyle categories. Our new partners will provide us with strategic capital and will ensure clients and consumers are supported to the highest degree.”
He added: “We are now in a position with this unique partnership to broaden the reach of the truffle experience more than was ever possible before.”
Sabatino offers its products to consumers and manufacturers, through its online shop and “specialty stores” throughout the US.
“We are proud to partner with Sabatino, a clear leader in the fine foods world,” said Mortimer Singer, co-managing partner of Traub Capital Partners.
“Sabatino’s commitment to quality and innovation aligns with TCP’s philosophy and approach. We believe we are uniquely positioned to actively support Sabatino in achieving their strategic growth plans.”
TCP has made its first direct venture into food, having acquired the manufacturer of dessert decorating products Signature Brands in 2018.
Lance Contento, managing director at Three Hills Capital Partners, said: “Partnering with Sabatino is an exciting opportunity for us to build on the already strong growth momentum in the market for truffle-based products and support the Company’s future development, notably in Europe.”