UK-based Italian food products manufacturer Crosta & Mollica has announced new investment from private-equity business Perwyn Advisors.
London-based Crosta & Mollica, which has a product portfolio ranging from breadsticks and pizza to gelato, has also announced experienced food executive David Milner is to become its new chairman.
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The business, which distributes its products via the major UK supermarket chains, said the investment from Perwyn will support its international expansion plans, as well as help to maintain its growth within the UK, with “product innovation, customer service and brand investment”.
The size of the stake London-headquartered Perwyn now holds in the business has not been disclosed nor has the amount it paid for it but Crosta & Mollica told Just Food that the investor is now the majority shareholder in the business.
James Orr, Crosta & Mollica’s founder, said: “I am delighted to welcome Perwyn as partners to Crosta & Mollica. Their shared vision for the potential of the business matches the ambition of our incredible team. We are only part way towards realising our goal of becoming a leading global Italian food brand and Perwyn’s international and sector expertise will help accelerate us towards achieving that.”
London-based Perwyn already has a number of food businesses in its portfolio, including fruit and vegetables supplier Freshcut Foods, marshmallow manufacturer Mr Mallo and halal processed meat business Isla Delice.
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By GlobalDataGurinder Sunner, a partner at Perwyn, said: “Perwyn is extremely happy to be collaborating with Crosta & Mollica. Its growth and increasing presence across multiple countries is incredibly impressive and testament to the passion they have for developing top quality products befitting of a premium and relatable brand.
“The investment aligns perfectly with Perwyn’s food sector expertise and track record in successfully partnering with entrepreneur owned businesses.”
New chairman Milner has previously worked for companies including crisp maker Tyrrells and baked goods business St Pierre Groupe.
On joining the business, he said: “James and his team have created a truly unique business – their relentless focus on innovation and quality has led to a best-in-class product range spanning the most loved categories of the world’s favourite cuisine.
“The opportunity for further growth is huge and I am thrilled to be able to join the business at this exciting juncture.”
Orr founded Crosta & Mollica in 2009 after working for a company that imported Italian food.
