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Three Hills announces new investment in leading global truffle-based products firm Sabatino Tartufi

13 April 2023 Investment Activity

Three Hills Capital Partners (“THCP”) is pleased to announce that Three Hills Capital Solutions IV (“THCS IV”) has completed an investment in Sabatino Tartufi (“Sabatino” or “the Company”), a producer of truffle-based products headquartered in West Haven, Connecticut (USA), with origins and ongoing operations in Montecastrilli, Umbria (Italy). The deal sees THCP partner with the founding Balestra family, and with Traub Capital Partners, a New York-based strategic private equity firm specialised in branded consumer companies. THCP will lean on its deep connections in the Italian market, and its strong network in the food and retail space across Europe, in order to support ST in unlocking its potential.

Originally founded in 1911, Sabatino has grown to become a leading producer and distributor of truffle-based products, specialising in selling the highest-quality fresh truffles and most innovative truffle products globally. The Company is led by CEO Federico Balestra and employs 100+ people across its facilities in the United States and Italy. Sabatino has long-standing relationships with truffle producers across Europe and has developed an extensive line of inventive, differentiated truffle-based products serving multiple end markets.

THCP is excited to partner with the Balestra family and with Traub Capital Partners in this next phase of growth.

Abhik Das, Partner at Three Hills Capital Partners, added:

We are excited to have completed our second investment in North America, following our earlier investment in New York-based Sant Ambroeus Hospitality Group out of THCP’s third fund. With now two US-headquartered portfolio companies, we are witnessing an ever-increasing number of investment opportunities across North America. Importantly, these also include compelling add-on M&A situations for some of our European portfolio companies. This transaction plays to our strengths in providing capital to businesses with global ambitions, and we look forward to supporting Sabatino’s growth plans in Europe in particular

Abhik Das, Partner at Three Hills Capital Partners

Lance Contento, Managing Director at Three Hills Capital Partners, said:

Partnering with Sabatino is an exciting opportunity for us to build on the already strong growth momentum in the market for truffle-based products and support the Company’s future development, notably in Europe. We look forward to working with Federico Balestra and his team, and to partnering with our friends at Traub Capital Partners, to help realise Sabatino’s plans in the years to come.

Lance Contento, Managing Director at Three Hills Capital Partners

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