E2P Acquires Specialty Meats Maker

Entrepreneurial Equity Partners (E2P) has acquired Daniele International, a branded and private label producer of specialty meats.

Daniele’s specialty Italian charcuterie – meats that are paired with toast, fruit, cheese, and sauces – and deli meats include prosciutto, salame, capocollo, pancetta, chorizo, and snack packs. The company’s products are sold to the club, mass, and grocery sectors under the Daniele and Del Duca brands.

Daniele was founded in 1945 in Trieste, Italy, by Stefano and Carolina Dukcevich, and was later moved to San Daniele, Italy, the prosciutto capital of the world (more than 30 prosciutto makers are in San Daniele). Vlado Dukcevich, Stefano and Carolina’s son, joined the business in the 1968 and he moved the company in 1976 to Pascoag, RI (centrally located between Boston and New York). Today, Daniele is in its third generation of ownership with Vlado’s sons, Stefano and Davide Dukcevich, and is headquartered in Mapleville, RI with 600 employees across three facilities (www.danielefoods.com).

The buy of Daniele is the second platform and third acquisition for E2P’s inaugural fund, Entrepreneurial Equity Partners Fund I LP. “I have known the Dukcevich family and Daniele for many years, and we are incredibly excited to add Daniele to our portfolio,” said Mark Burgett, a managing partner of E2P. “Daniele has developed industry-leading brands and product offerings as a result of its dedication to authenticity, quality, and strong product innovation.”

The Dukcevich family remains an investor in the company in partnership with E2P. “Our family has dedicated over 70 years to growing Daniele. We selected E2P as our partner for the company’s next stage because of their blend of hands-on operational experience and demonstrated ability to create value in food companies for all stakeholders,” said CEO Vlado Dukcevich. “I know our amazing team of dedicated employees is excited to pursue even more opportunities to thrive with this important partnership.”

“We are excited to leverage our experience and networks in the food industry to help Daniele continue to identify and capture growth opportunities,” said CJ Fraleigh, a managing partner of E2P.

Chicago-based E2P was founded by Mr. Burgett, a former managing director at Wind Point Partners, and Mr. Fraleigh, a former CEO of Shearer’s Foods and Sara Lee North America. The firm makes control-oriented investments of $25 million to $150 million in companies that have revenues of at least $50 million and are active in the food and consumer packaged goods industries. Sectors of specific interest include established food and beverage products and brands, private label and contract manufacturing (www.e2pcapital.com).

© 2019 Private Equity Professional | September 20, 2019

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