Belgian private equity firm, Verlinvest, has acquired a 24.5 percent stake in Italian tomato processing group, Mutti, for an undisclosed amount.

Founded in 1995, Verlinvest is a private investment holding company based in Brussels, and with offices in New York and Singapore. With global assets totaling more than €15 billion (US$15.8 billion) the firm focuses on three investment pillars – Food and Beverages, E-commerce and Digital, and Retail and Hospitality according to its website.

Mutti is a premium tomato processor holding approximately a 31 percent market share. In recent years the group has expanded its geographic reach to secure leading market positions in France, Scandinavia, and Australia, and now generates about one third of its sales from foreign markets. Founded in 1899 by Marcellino Miutti, the group remains a family-owned company led by Francesco Mutti today. Under Francesco’s leadership, the group has raised its turnover from €10 million to €250 million.

“We are true admirers of Mutti’s achievements, longstanding heritage, and expertise in the tomato sector”, said Frédéric de Mévius, Chairman of the Board of Verlinvest. “We are very excited to work alongside Francesco Mutti to turn Mutti into the leading premium global tomato brand.”

Mutti plans to use the funds generated by the Verlinvest investment to raise its brand awareness, strengthen its international team, develop new tomato products, and enhance its production capacity in Italy.

“Our long-term objective is to deliver internationally what we have been successful in achieving in Italy: brand leadership, quality recognition, and innovation,” said Mutti CEO, Francesco Mutti. “We have found in Verlinvest a partner who shares our values and global ambition. Together, we aim to bring the best of Italian tomatoes to consumers worldwide.”

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Lynda Kiernan