Benford Capital Partners Acquires Turri’s Italian Foods
Benford Capital Partners (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce its acquisition of Turri’s Italian Foods, Inc. (“Turri’s” or the “Company”) in partnership with third and fourth generation members of the Turri family, who will continue to lead the Company post-closing. Turri’s is the 6th platform investment in Benford Capital Partners II, LP and represents BCP’s 16th investment in the food industry.
Founded in 1949 and located near Detroit, MI, Turri’s is a leading provider of IQF (“individually quick frozen”) pasta and rice to a diverse customer base, including food manufacturing companies, large CPGs, restaurant chains, national retailers, and distributors. 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 President John Turri. “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.”
BCP and Turri’s plan to invest in additional capabilities and resources to drive the Company’s continued growth and expansion. In addition, BCP and management will actively pursue add-on acquisitions of other pasta and rice manufacturers.
Regarding the new investment, BCP Operating Partner Rupal Patel said, “Turri’s is a great company with a rich history and differentiated production capabilities. John Turri and the rest of the team have firmly established the Company as a leader in IQF pasta and rice, and we look forward to executing our value creation plan together.”
BCP Managing Director Ben Riefe added, “Our investment in Turri’s marks BCP’s 7th platform investment in the food sector and further demonstrates our long-tenured commitment to building and scaling unique, family and founder owned food companies. We look forward to building on Turri’s legacy in the years ahead and leveraging our Operating Partner and Executive Advisor network to support the Company’s continued growth and success.”
ABOUT BENFORD CAPITAL PARTNERS
Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired over 50 companies and currently owns 16 platform companies. BCP’s industry areas of focus include food and consumer products, industrial technology, agricultural products and services, and B2B e-commerce. For more information, please visit www.benfordcapital.com.
Please contact Ben Riefe (ben@benfordcapital.com), Rupal Patel (rupal@benfordcapital.com), or Ben Getka (bgetka@benfordcapital.com) with any questions or add-on acquisition ideas related to Turri’s (www.turrisitalianfoods.com).