US-based private-equity firm Benford Capital Partners (BCP) has acquired local frozen pasta and rice maker Turri’s Italian Foods.
Financial details were not disclosed.
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BCP revealed that third- and fourth-generation members of the Turri family will continue to lead the Michigan-based company post-closing.
Founded in 1949, Turri’s provides its “individually quick frozen” (IQF) pasta and rice to food manufacturing companies, large CPGs, restaurant chains, national retailers and distributors.
The statement added that Turri’s IQF pasta and rice products serve as “key ingredient components” in retail packaged pastas, ready-to-eat meals, prepared pastas and deli salads.
“We are delighted to partner with Benford Capital in support of Turri’s continued growth,” said Turri’s president John Turri.
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By GlobalData“Our team looks forward to working with BCP to enhance our capabilities, expand our production capacity and continue to provide the exceptional product quality and customer service that has driven Turri’s success over the last 75 years.”
The acquisition brings BCP’s total investments in the food industry to 16, it said in a statement.
BCP managing director Ben Riefe added: “Our investment in Turri’s marks BCP’s seventh platform investment in the food sector and further demonstrates our long-tenured commitment to building and scaling unique, family and founder-owned food companies.”
Earlier this year, the private-equity firm exited US dip maker Saco Foods after first investing in the business back in 2017.
Meanwhile, last month, Legacy Bakehouse acquired the operating assets of Angelic Bakehouse. Legacy Bakehouse, which BCP snapped up in April 2023, gained Angelic’s 42,000-square-foot facility in Cudahy, Wisconsin, as well as its production equipment.
BCP is currently investing from its $200m Fund II and has approximately $350m of total capital under management.
