Platinum Equity acquires majority stake in Italian food giant F.lli Polli S.p.A.

In a move that underscores its commitment to strategic growth in the European food sector, Platinum Equity has officially completed the acquisition of a majority stake in F.lli Polli S.p.A. (“Polli”). The deal, initially announced in September 2024, positions Polli for significant expansion in international markets while preserving its strong legacy as a family-owned business. The Polli family, alongside CEO Marco Fraccaroli, retains a minority stake, ensuring continuity of leadership and heritage.

While financial terms of the deal were not disclosed, the acquisition exemplifies Platinum Equity’s focus on partnering with family-owned businesses to drive operational improvements and market growth.

Who Is F.lli Polli S.p.A.?

Founded in 1872, Polli is a prominent Italian food producer with a reputation for high-quality pasta condiments, vegetable preserves, olives, pickles, and more. With a presence in over 50 countries, Polli is one of Europe’s largest pesto manufacturers, processing approximately 29,000 tons of vegetables annually. Its four cutting-edge production plants handle over 130 raw materials, delivering more than 190 million packages of food products every year.

Polli’s long-standing reputation as a pasta condiment leader has made it a household name across Europe, known for preserving authentic Italian flavours while meeting modern consumer demands.

Why Did Platinum Equity Acquire Polli?

The Platinum Equity acquisition of Polli is driven by a shared vision for growth, innovation, and international market expansion. Platinum Equity Co-President Louis Samson highlighted the importance of the Polli family legacy in shaping the deal. He explained that while selling a business with such deep roots was a difficult decision for the family, they trusted Platinum Equity to take the brand forward without compromising its heritage.

Samson elaborated on the firm’s strategy, noting that Polli’s potential to grow outside Europe, particularly in the United States, aligned perfectly with Platinum Equity’s operational expertise and global reach. Managing Director Fernando Goni echoed these sentiments, emphasizing the importance of combining the family’s vision with Platinum Equity’s resources to unlock growth opportunities in untapped markets.

The Role of Platinum Equity in Driving Growth

Platinum Equity’s Small Cap investment team led the transaction, leveraging its extensive experience in the European food markets and the food and beverage industry. The firm’s track record in supporting family-owned businesses makes it an ideal partner for Polli as it embarks on a new chapter.

Samson explained that Platinum Equity’s two-decade presence in Europe has enabled it to build a comprehensive suite of operational capabilities tailored to the region’s unique business environment. He described this local expertise as a “hallmark” of the firm’s success, highlighting its ability to execute complex carveouts and optimize operations at a granular level.

This approach has already proven successful across Platinum Equity’s European portfolio, which includes Biscuit International, a Paris-based private-label sweet biscuit manufacturer; Fantini Group, an Italian wine producer; Iberconsa, a Spanish seafood provider; and E&A Scheer, an Amsterdam-based premium rum blending specialist.

What’s Next for Polli?

The acquisition marks a pivotal moment for Polli as it prepares to expand beyond its established foothold in the European food markets. Platinum Equity aims to strengthen Polli’s supply chain, enhance production capabilities, and increase its penetration into international markets.

Samson stated that a key focus would be ensuring Polli maintains its identity as a trusted Italian food producer while introducing its products to new audiences. He emphasized that Platinum Equity’s expertise in scaling businesses globally would be instrumental in achieving these objectives.

Polli’s reputation as a vegetable preserve specialist and pasta condiment leader positions it well to capitalize on growing global demand for authentic Italian flavours. With Platinum Equity’s backing, the company is expected to amplify its brand presence, innovate its product offerings, and cement its place as a leader in the international food industry.

Advisors and Transaction Details

Deloitte and Clearwater acted as financial advisors to Platinum Equity during the transaction. Legal counsel was provided by Latham & Watkins LLP, while Ernst & Young (E&Y) offered tax advisory services.

The acquisition is part of a broader strategy by Platinum Equity to invest in businesses with high growth potential, particularly those rooted in family ownership and tradition. For Polli, the deal represents an opportunity to expand its legacy while meeting the demands of an increasingly global marketplace.