Bolton Group, owner of canned tuna brand Rio Mare, inked an agreement to purchase 55 percent of Conservas Garavilla, which was held by the venture capital fund MCH Private Equity since 2010.
The Italian company, which since 2012 also owns 40 percent of Calvo, will control the capital of the Basque manufacturer, although the founding family will keep the other shareholders and management, reported La Voz de Galicia.
The agreement reached between Bolton and Garavilla states that both partners will build on the existing management team to strengthen business expansion and trademarks of the canning group.
Garavilla
