Rudolph Capital has sold DeIorio Foods to Encore Consumer Capital

DeIorio Foods

Headquartered in Utica, New York and founded in 1924, DeIorio Foods (“DeIorio’s”) is a leading provider of customized pizza dough balls, crusts, and shells to foodservice operators in the U.S. Using a leading R&D team and a broad range of technical capabilities, DeIorio’s customizes this ingredient to meet numerous considerations and produce a unique product for each customer’s specific needs. DeIorio’s provides foodservice operators (including pizzeria chains, full and quick service restaurants, convenience stores, and others) with numerous benefits, such as removing labor and equipment from the kitchen, streamlining operations and maintaining consistent quality across every slice. For more information, please visit www.deiorios.com.

The Deal

Rudolph Capital (“Rudolph”) acquired DeIorio’s in July 2019 and made significant investments in the Company’s production infrastructure, people, systems and processes. Following a period of strong sales and profitability growth, DeIorio’s engaged Lincoln International to find a committed partner to maximize the Company’s growth potential.

Lincoln ran a tailored process, which resulted in DeIorio’s choosing to partner with Encore Consumer Capital, a firm with deep experience across the food and beverage ecosystem.

Our Perspective

David Houser, Lincoln International Managing Director who led the transaction, commented, “This transaction demonstrates the attractiveness of custom formulations that are difficult to replicate, leading to strong value propositions and customer partnerships that grow over time with high switching costs and strong margins. The Company also benefits from favorable trends related to the expansion of consumer palates and the increasing need for foodservice operators to differentiate their products to enhance customer loyalty. This transaction represents another successful outcome for Lincoln in the food ingredients and baked goods sectors.”

Rudolph Capital

Rudolph is a private equity (PE) firm headquartered in Wilton, Connecticut. Prior to founding Rudolph Capital in 2019, Mr. Rudolph had a long and distinguished career in PE, during which he completed numerous acquisitions of privately and family-held businesses. For more information, please visit www.rudolphcapital.com.

Encore Consumer Capital

Encore Consumer Capital is a PE investment firm focused on the consumer products industry. The firm has raised over $900 million in committed capital and invested in over 40 companies in the sector. Encore’s current and prior investments include food and beverage manufacturers and marketers, pet products companies, personal care/beauty companies, and food distribution companies. The firm targets companies with between $10 million and $150 million in annual revenues where Encore’s strong expertise in strategy development, brand marketing, manufacturing and supply chain optimization, and distribution expansion can drive performance. For more information, please visit www.encoreconsumer.com.

Share: