The Riverside Company, a global private investor focused on the smaller end of the middle market, has acquired Canuti Tradizione Italiana S.r.l., a family-owned producer of frozen pasta serving the food service channel and based in Emilia Romagna region. This is the second acquisition in the Rimini area, after the Galvanina water acquired in 2019.

The acquisition is an add-on to Riverside’s prior acquisition of Il Pastaio di Brescia earlier this year.

Founded in Rimini in 1950, Canuti produces and sells frozen filled pasta and non-filled pasta. The company was acquired in 2015 by the Toffano Pagnan family, who also have interests in the real estate and touristic sectors, and who built Canuti from a small pasta factory into a leading producer for haute cuisine with a product range of more than 150 pasta dishes. Canuti has a well-diversified customer base, mainly distributing its products through the food service channel, and has expanded in recent years, now selling 45% of its products internationally in 35 countries.

Karsten Langer, Managing Partner of Riverside Europe, commented: “Canuti is the perfect addition to Il Pastaio, and will help drive further expansion and capitalize on the global popularity of the trend for ‘Made in Italy’ cooking experiences and quality food ingredients.”

Marcello and Andrea Toffano commented: “We are pleased to have found an investor like Riverside, who will be able to carry on the mission of providing chefs from all over the world with professional solutions to create excellent pasta dishes. Canuti pasta is currently exported to 35 countries, and we are convinced that Riverside can greatly contribute to increasing this internationalization process.”

The acquisition of Canuti is another example of Riverside’s expertise in and dedication to the investment in the food and beverage sector. Riverside has completed more than 10 investments in this area since 2009 and has a global team of professionals dedicated to growing these companies. 

The latest acquisition in Italy was that of Biodue last November, a Tuscan company specialized in the production of food supplements and medical and cosmetic devices.