Italian private equity fund Taste of Italy 2, managed by DeA Capital Alternative Funds, has acquired a majority stake in coffee roasting company Ekaf.
Although the exact share has not been communicated, Italian media reports put it around 60%.
Owned by the Pieri family, Ekaf is the largest roasting plant in Italy’s Liguria region and owns the Cellini coffee brand.
Based in Genoa, Ekaf is active in the high-quality coffee sector, producing and selling beans, ground coffee and capsules, and generating €40 million in turnover from sales in Italy and abroad.
Taste of Italy 2 intends to leverage on Ekaf's proven industrial and commercial capabilities by supporting development in domestic and international markets, strengthening distribution channels and markets served, and evaluating opportunities for growth through external lines.
The Pieri family will retain a significant shareholding in the company, while Giovanni Pieri will stay on as company president.
Ekaf is the third investment for Taste of Italy 2, which recently expanded its geographical scope to the Iberian Peninsula.
DeA Capital Alternative Funds is 100% controlled by DeA Capital, a De Agostini Group company.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine