Paitings by Renoir, Cézanne and Matisse worth millions were stolen in a heist on a museum near the Italian city of Parma, police say.

Four masked men entered the Magnani Rocca Foundation villa on 22 March, police said, making off with Les Poissons by Pierre-Auguste Renoir, Still Life with Cherries by Paul Cézanne and Odalisque on the Terrace by Henri Matisse.

The gang were in and out in the space of three minutes, Italian media reports, and were only interrupted by the museum's alarm system, preventing them from stealing more.

The institution is the latest to be subject to a heist, following the brazen daylight robbery of priceless jewels from the Louvre in Paris last October.

The thieves involved in last weekend's robbery forced their way through the main door to the Villa dei Capolavori, nestled in the Parma countryside, and nabbed the paintings from the French Room on the building's first floor, Italian media reports.