Private-equity firm Encore Consumer Capital has bought US pizza-products supplier DeIorio’s for an undisclosed sum.
DeIorio, based in Utica in New York state, manufactures pizza dough balls, pre-formed crusts and shells.
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The company’s customers include pizza restaurants, convenience stores and grocery retailers in North America.
DeIorio’s Luis Pereira CEO said: “Encore brings deep industry experience and is the right partner to support us as we continue on our growth trajectory.”
Encore will add DeIorio’s to a portfolio that includes over 40 companies. It is said to have raised more than $900m in committed capital to date.
The PE firm focuses on investing in food and beverage manufacturers, personal care and beauty companies, and food distributors. It targets businesses with annual revenues ranging between $10m and $150m.
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By GlobalDataEncore Consumer Capital managing director Kate Wallman said: “We love businesses that help retail and foodservice operators pull labour out of their operations – DeIorio’s has a ton of momentum and we are excited to help them build out capacity and expand their current capabilities.”
The latest development comes after Encore exited from plant-based foods brand Ancient Harvest and Pamela’s in August.
In May, Encore expanded its dessert portfolio with the acquisition of Chalet Desserts, a Sacramento-based manufacturer of frozen bakery desserts and baked goods inclusions.
Chalet’s products are sold in supermarkets and convenience stores, as well as to foodservice and ingredient markets.
In April, Encore also exited its investment in Banneton Bakery, which specialises in freezer-to-oven croissants, danishes and pastries.
The move came after the bakery was acquired by Vandemoortele, a European family-owned food group.
