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Let’s TalkSeviroli Foods Acquires Mama Rosie’s in Massachusetts
Seviroli Foods, based in New York, United States, acquired Mama Rosie’s, based in Massachusetts, United States, on July 17, 2023. Both companies manufacture frozen pasta products and other Italian food items.
Transaction Summary
The Facts of the Acquisition
- Target: Mama Rosie’s is a second-generation, family-owned producer of frozen pasta products and other Italian foods. The company is based in Massachusetts, and with two factories, it sells products in the Eastern United States.
- Acquirer: Seviroli Foods is a private company backed by private equity firm Mill Point Capital. Seviroli produces and imports pasta products and other Italian foods. It is based in New York, United States, and sells nationally.
Our Take on the Acquisition
Seviroli Foods (acquirer) and Mama Rosie’s (target) together may create a stronger enterprise with enhanced scale, a robust product portfolio, and a diversified customer base. The combined resources and capabilities of Seviroli and Mama Rosie’s provide a significant opportunity to scale organically and accelerate growth while ensuring the highest levels of product quality.
The Transaction
| Date: | July 17, 2023 |
| Price: | Undisclosed |
| Purpose: | To enhance production capacity and benefit from scale. |
| Acquirer’s Statement: | Paul Vertullo, president and CEO of Seviroli – “Nick [Sardo, CEO and owner of Mama Rosie’s] and his management team have achieved excellent growth at Mama Rosie’s while staying true to the Company’s core focus of manufacturing high-quality pasta and maintaining outstanding customer service. Our combination with Mama Rosie’s is exciting and allows us to reinforce our commitment to delivering superior products and services to our customers and exciting ideas for this category.” |
Target/Seller: Mama Rosie’s
Company Information
| Target: | Mama Rosie’s |
| Website: | mamarosies.com |
| Founded: | 1976 |
| Industry: | Frozen Food Production – Italian Foods |
| Type: | Private, family owned |
| Employees: | 32 (Unconfirmed Source: ZoomInfo) |
| Locations: | Head Office and Factory: 10 Dorrance Street, Charlestown, Massachusetts, United States Factory: 7 State Street, Woburn, Massachusetts, United States |
Product Information
| Products: | Gnocchi – Dumplings made from flour, egg, salt, and potatoes Manicotti – Large pasta tube served stuffed and baked Ravioli – A wrapping made of egg pasta and filled with various ingredients, like meat, ricotta cheese, and vegetables Tortellini – Ring-shaped filled pasta stuffed with various ingredients – meat, cheese, egg, and so on |
| Market Reach: | Colorado Connecticut Delaware Maine Maryland Massachusetts New Hampshire New Jersey New York North Carolina Pennsylvania Rhode Island South Carolina Vermont West Virginia Washington, D.C. |
Financial Information
| Revenue: | USD $7.7 million (Source: ZoomInfo) |
| Revenue per Employee: | USD $240,625 (i.e., USD $7.7 million / 32 employees = USD $240,625 – estimated based on the number of employees and revenue from ZoomInfo) |
Did You Know?
Italy remains the world’s largest pasta producer. There are nearly 350 shapes of pasta, and it’s estimated there are about four times as many names as there are shapes. The three most popular shapes are spaghetti, macaroni, and penne. Spaghetti is so popular that it accounts for two-thirds of all pasta production.
Target/Seller Overview: Mama Rosie’s
Mama Rosie’s is a family-owned manufacturer of frozen pasta products in the Northeastern United States, supplying a wide range of specialty-filled and non-filled frozen pasta to a diverse customer base. Since its founding in 1976, Mama Rosie’s has used high-quality, all-natural ingredients as the foundation of its Italian-focused products. The company maintains a strong brand identity in its core markets with long-standing customer relationships in the grocery/retail channel.
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Explore Your Options NowBuyer/Acquirer: Seviroli Foods
Company Information
| Buyer: | Seviroli Foods |
| Website: | seviroli.com |
| Founded: | 1960 |
| Industry: | Frozen Food Production and Importation |
| Type: | Private with one round of private equity funding |
| Employees: | 201-500 (Self-published on LinkedIn) |
| Investors: | Mill Point Capital: A private equity firm focused on control investments in lower middle-market companies in North America across the business services, industrials, and IT services sectors. Mill Point Capital is based in New York, United States. The investment was made in 2022, and the amount was undisclosed. |
| Locations: | Head Office and Factory: 385 Oak Street, Garden City, New York, United States Factory: 60 Davids Dr, Hauppauge, New York, United States Factory: 960 Creek Road, Bellmawr, New Jersey, United States |
Product Information
| Products: | Desserts – Cannoli, a tube-shaped Italian dessert of fried pastry dough stuffed with a sweet, creamy cheese filling Manicotti – Large pasta tube intended to be stuffed and baked Pasta – Fusilli, penne, and cavatappi Ravioli – Pasta comprising a filling enveloped in thin pasta dough Sauces – Alfredo, bolognese, and marinara Tortellini – Pasta stuffed with a mix of meat, cheese, egg, nutmeg |
| Market Reach: | United States |
Financial Information
| Revenue: | USD $67.2 million (Unconfirmed Source: ZoomInfo) |
| Revenue per Employee: | USD $192,000 (USD $67.2 million / 350 employees = USD $192,000 – estimated based on the self-published number of employees and the revenue from ZoomInfo) |
Buyer/Acquirer Overview: Seviroli Foods
Seviroli is a leading manufacturer of frozen pasta and other food products, based in Garden City, New York. It manufactures products for food distributors, clubs, and grocery/retail channels, offering various items including ravioli, tortellini, stuffed shells, manicotti, pasta, and other products. It operates out of three manufacturing facilities in the New York metro area with the capability to serve customers nationally. Seviroli also imports specialty food products under its Vertullo brand, importing over 150 items, including pasta and other fresh and frozen goods, from 19 countries.
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Sources
- Company Profile
- Other Sources
- Unconfirmed Sources