LaSalle acquired DeIorio in 2007
DeIorio Meals, a US producer and provider of Italian-style merchandise like pizza dough, has bought a brand new proprietor.
The corporate, primarily based in New York state, has been bought by private-equity agency LaSalle Capital to a different buy-out home, Rudolph Capital.
DeIorio, arrange 95 years in the past, provides merchandise to retail and foodservice prospects. The corporate, which has greater than 200 employees, can be a co-manufacturer.
The acquisition of the enterprise is the primary made by Rudolph Capital arrange this 12 months by private-equity veteran Wealthy Rudolph. Earlier than establishing the agency, Mr Rudolph labored for greater than 20 years at Bradford Equities Administration.
“We’re excited to launch our new agency with the acquisition of DeIorio Meals,” founding companion Wealthy Rudolph. “With 95 years of historical past, it’s a good match for us and the administration staff has very efficiently positioned the corporate for future progress.”
In a press release, Rudolph Capital described DeIorio as “a frontrunner in offering specialty frozen pizza doughs to quite a few foodservice and retail prospects all through america and Canada”.
It added: “New progress alternatives in specialty objects equivalent to gluten free, natural, and plant primarily based merchandise are displaying great potential.”
On the Rudolph Capital web site, the agency says it targets firms in manufacturing, distribution, retail and companies. The companies have gross sales of US$5m to $75m and generates income of $500,000 to $10m.
LaSalle Capital, which had owned DeIorio for 12 years, stated the producer had “considerably” grown gross sales and had expanded manufacturing underneath its stewardship.
Jeff Walters, managing companion at LaSalle, stated: “It has been outstanding to witness the transformation of DeIorio from a regional producer of predominately frozen dough balls bought to native eating places, to a nationwide provider of numerous, premium frozen dough merchandise.”
George Lampros, DeIorio’s CEO, added: “It was a pleasure working with the LaSalle staff to construct the main frozen dough provider within the north east. The complete DeIorio staff loved our partnership with LaSalle Capital. LaSalle offered strategic help and capital required to successfully develop within the evolving frozen dough market. We had a superb relationship with LaSalle and our board of administrators and stay very bullish concerning the alternatives that lie forward for the corporate.”
LaSalle acquired DeIorio by way of the private-equity agency’s portfolio firm Violet Packing in January 2007. The tomato sauce division of Violet Packing was bought to B&G Meals in November 2010, leaving DeIorio as a stand-alone firm.