3i exits Monviso

Italian mid-market firm Alto Partners has acquired Monviso, a food company specialising in bread substitutes such as breadsticks and biscuits, from UK private equity house 3i in a €35m deal.

Operating under the brand Panmonviso, the company operates three manufacturing facilities with revenues of over €30m and 110 employees.

Following the deal, Alto will hold 89% of the business through its fund Alto Capital II, with the management and other investors holding the remainder.

3i bought the company in July 2005, investing just over £2m.