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  6. Encore Consumer Capital Acquires DeIorio Foods

M&A Deal Summary

Encore Consumer Capital Acquires DeIorio Foods

On November 8, 2024, private equity firm Encore Consumer Capital acquired food company DeIorio Foods from Rudolph Capital and Pine Street Capital Partners

Acquisition Highlights
  • This is Encore Consumer Capital’s 8th transaction in the Food sector.
  • This is Encore Consumer Capital’s 22nd transaction in the United States.
  • This is Encore Consumer Capital’s 3rd transaction in New York.

M&A Deal Summary
Date 2024-11-08
Target DeIorio Foods
Sector Food
Buyer(s) Encore Consumer Capital
Sellers(s) Rudolph Capital
Pine Street Capital Partners
Deal Type Secondary Buyout

Target

DeIorio Foods

Utica, New York, United States
DeIorio Foods is a manufacturer of specialty frozen dough for the pizza industry. DeIorio Foods was founded in 1924 and is based in Utica, New York.

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Buyer(S) 1

Buyer

Encore Consumer Capital

San Francisco, California, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 600M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Encore Consumer Capital is a specialist private equity firm focused on the food and consumer products industries. Specific areas of interest include food and beverage, health and beauty care, pet, automotive aftermarket, infant and children's products, and leisure products. Encore prefers companies in revenues of $10 - $100 million. It looks to invest $5 - $40 million. Encore generally invests in control situations but will consider select minority investments. Encore will not invest in restaurant-only or retail-only companies. Encore operates in partnership with Encore Associates, a strategic advisory firm. Encore Consumer Capital was formed in 2005 and is based in San Francisco.

DEAL STATS #
Overall 23 of 23
Sector: Food M&A 8 of 8
Type: Secondary Buyout M&A Deals 2 of 2
State: New York M&A 3 of 3
Country: United States M&A 22 of 22
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-21 Ancient Harvest

Golden, Colorado, United States

Ancient Harvest is a provider of gluten-free grains, plant-based protein, and organic wheat free grains. Ancient Harvest portfolio spans a wide range of organic, non-GMO, plant-based foods including multiple varieties of quinoa, pasta, mac and cheese, and polenta – all made from gluten-free ‘power’ ingredients ranging from quinoa to beans and lentils. Ancient Harvest was formed in 1983 and is based in Golden, Colorado.

Sell -

Seller(S) 2

SELLER

Rudolph Capital

Investor

Category Private Equity Firm
Founded 2019
Size Small
Type Sector Agnostic
DESCRIPTION

Rudolph Capital is a private equity firm focused on family-owned companies in the manufacturing, distribution, retail, and services industries. The Firm looks to invest in companies with $500k to $10 million of EBITDA and $5 to $75 million in revenue. Rudolph Capital was founded in 2019 and is headquartered in Wilton, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 ChemArt

Lincoln, Rhode Island, United States

ChemArt is a custom manufacturer of premium brass Christmas ornaments. ChemArt is based in Lincoln, Rhode Island.

Buy -
SELLER

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.

DEAL STATS #
Overall 17 of 18
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
State: New York M&A 3 of 3
Country: United States M&A 17 of 18
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-10 Burnyzz

Ocala, Florida, United States

Burnyzz is a specialized automotive services business focused on the restoration/build, sale, and service of classic and iconic cars, as well as heavy-duty trucks and trailers. It offers fully custom restoration and modernization services, in which the Company takes the body of a classic car and outfits the vehicle with entirely new parts providing modernized comfort and capabilities. Burnyzz was founded in 2010 and is based in Ocala, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-03 Seattle Coffee Gear

Lynnwood, Washington, United States

Seattle Coffee Gear is a coffee equipment retailer supplying home-brewed, specialty coffee market with coffee equipment, whole bean coffee, and a wide range of coffee-related products and repair services. The Company features over 200 machine models, many exclusively, and a curated selection of fresh, whole bean coffee. Seattle Coffee Gear was formed in 2006 and is based in Lynnwood, Washington.

Sell -
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