Private-equity firm Encore Consumer Capital has acquired DeIorio’s, a U.S. supplier of pizza products, for an undisclosed amount. This strategic move underscores Encore’s commitment to growth within the food and beverage sector.
DeIorio’s, located in Utica, New York, is known for manufacturing high-quality pizza dough balls, pre-formed crusts, and shells. Its clientele includes pizza restaurants, convenience stores, and grocery retailers across North America. This acquisition aligns with the ongoing trends in the food and drink business, where efficiency and quality are increasingly vital.
Luis Pereira, CEO of DeIorio’s, expressed enthusiasm about the acquisition, stating: “Encore brings deep industry experience and is the right partner to support us as we continue on our growth trajectory.” This partnership is likely to enhance DeIorio’s operational capacity and market reach, reflecting recent food and drink consumer trends emphasizing convenience and quality.
Encore Consumer Capital is poised to integrate DeIorio’s into its diverse portfolio, which currently encompasses over 40 companies. With more than $900 million in committed capital raised to date, Encore has a proven track record of investing in food and beverage manufacturers, personal care brands, and food distributors. The firm strategically targets businesses with annual revenues between $10 million and $150 million, positioning itself as a key player in the food and beverage industry trends.
In a related context, Encore’s managing director, Kate Wallman, elaborated on the acquisition, stating: “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.”
This acquisition follows Encore’s recent divestment from the plant-based foods brand, Ancient Harvest and Pamela’s, in August. Earlier in May, Encore expanded its dessert portfolio with the acquisition of Chalet Desserts, a Sacramento-based manufacturer of frozen bakery products and goods used as inclusions. Chalet’s offerings are sold through various channels, including supermarkets, convenience stores, foodservice, and ingredient markets.
Moreover, in April, Encore exited its investment in Banneton Bakery, known for its freezer-to-oven croissants, danishes, and pastries. This strategic exit was made after Banneton was acquired by Vandemoortele, a European-based family-owned food group.
These developments not only highlight Encore’s agility in adapting to market shifts but also reinforce its dedication to enhancing its investment portfolio within the burgeoning food and beverage industry. As the market evolves, continuing attention to consumer preferences and operational efficiencies will remain crucial for sustained growth in the food and drink sector.
