Italian state-backed private equity fund Fondo Strategico Italiano (FSI) and Qatar Holding have acquired stake in Italian meat producer Inalca for $205m.
The Qatari, Italian joint venture will acquire 28.4% stake in Inalca, which is currently wholly owned by Cremonini.
Inalca produces and sells beef, charcuterie, snacks, and ready meals. The company offers vacuum-packed and frozen beef products, canned meats, breaded meats, frozen minced meats, sides, quarters, anatomical cuts, offals, portioned products, hamburgers, tinned products, and other food products.
The acquisition is said to be the first investment by both the companies.
Commenting on the acquisition, FSI CEO said: "With this investment we aim to support the distribution of food 'made in Italy' abroad."
Founded in 2013, the joint venture is aimed at investing in food, fashion and luxury, tourism and leisure sector in Italy.
