New partnership with Mill Point Capital and existing management will boost family-owned pasta company
LOCUST VALLEY, N.Y., Dec. 21, 2022 /PRNewswire/ — Expanding its portfolio of dynamic companies to include the food industry sector, Sandy Hill Investors has announced that it has made a minority investment in Seviroli Foods, Inc. (“Seviroli”) and Vertullo Imports, LLC (“Vertullo”).
For more than 60 years, family-owned, Long Island-based Seviroli has been producing a wide range of chef-inspired, artisan filled pastas, sauces and Italian desserts, as well as other products. Vertullo is a high-end importer that sources an array of specialty food products from around the globe.
Sandy Hill’s stake, together with a majority investment from Mill Point Capital, and the continued leadership of Joe Seviroli and Paul Vertullo will create a powerful partnership to help the company through its next stage of growth. Both Joe Seviroli and Paul Vertullo will continue to operate the companies and have a significant ownership stake in the new partnership.
As part of the investment, Sandy Hill will have a seat on the Board of Directors of the new combined company.
“Across the decades, and generations, these family-owned companies have established a reputation for quality and innovation that gives them enormous potential to grow market share,” said Sandy Hill Chairman, Matthew J. Bruderman. “This exciting partnership involving Mill Point Capital and those whose passion and hard work have built these companies will help create a powerful food brand.”
Dustin Smith, Partner of Mill Point said, “We are committed to maintaining the core values that the Seviroli family and team have created and we look forward to pursuing numerous growth avenues alongside Matthew Bruderman and the Sandy Hill team.”
“We are excited about our partnership with Sandy Hill and Mill Point as we look to the company’s next stage of growth. We believe this partnership will add significant value as we continue to build on our family’s legacy,” added Seviroli CEO, Joseph Seviroli, Jr.
Sandy Hill Investors is the private investment affiliate of the Bruderman Family Office. Led by Matthew J. Bruderman, Sandy Hill Investors believes in bold companies and visionary founders focused on improving the way we live, work, and do business.
Sandy Hill specializes in investing both equity and debt capital in founder-owned, closely held lower middle market companies, and looks to form true partnerships with motivated, proven, and successful management teams. For more information, please visit www.sandyhillinvestors.com.
Seviroli is a leading manufacturer of frozen pasta and other food products based in Garden City, NY. Seviroli manufactures products for the foodservice, club and grocery/retail channels, offering a variety of items including ravioli, tortellini, stuffed shells, manicotti, short cut pastas and other products. Seviroli operates out of three manufacturing facilities in the New York Metro area with the capability to serve customers nationally. For more information, please visit www.seviroli.com.
Vertullo is a leading specialty imports business, importing over 150 items from 19 countries including pasta, rice, sauces, oils, truffles, and other fresh and frozen goods. Vertullo supplies products to Seviroli as well as third-party foodservice, retail and e-commerce trade customers. For more information, please visit www.vertulloimports.com.
SOURCE Sandy Hill Investors