Benford Capital Partners (BCP), a US-based private-equity firm, has recently acquired Turri’s Italian Foods, a local frozen pasta and rice maker. The financial terms of the acquisition were not disclosed. Following the acquisition, third- and fourth-generation members of the Turri family will continue to lead the Michigan-based company.
Established in 1949, Turri’s specializes in providing “individually quick frozen” (IQF) pasta and rice to food manufacturing companies, large CPGs, restaurant chains, national retailers, and distributors. These products are integral components in retail packaged pastas, ready-to-eat meals, prepared pastas, and deli salads.
Turri’s president, John Turri, expressed excitement about the partnership with Benford Capital, stating, “We are delighted to partner with Benford Capital in support of Turri’s continued growth.”
This acquisition adds to BCP’s extensive portfolio in the food industry, bringing their total investments to 16. Ben Riefe, BCP’s managing director, highlighted the firm’s commitment to scaling unique, family, and founder-owned food companies through investments like Turri’s.
BCP is currently investing from its $200 million Fund II and manages approximately $350 million in total capital. The firm’s track record includes exiting investments in companies such as Saco Foods and acquiring Legacy Bakehouse, which recently acquired the assets of Angelic Bakehouse.
Transitioning into the food and beverage industry trends, BCP’s acquisition of Turri’s reflects its strategy of building and scaling food companies with a focus on quality and customer service. By partnering with BCP, Turri’s aims to enhance its capabilities, expand production capacity, and maintain the exceptional product quality that has defined its success over the past 75 years.
In conclusion, Benford Capital Partners’ investment in Turri’s demonstrates its dedication to fostering growth and innovation in the food and beverage sector.
