Chicago, IL – LaSalle Capital (“LaSalle”) is pleased to announce the sale of its portfolio company, Joseph’s Gourmet Pasta (“Joseph’s” or the “Company”), to Turri’s Italian Foods, a portfolio company of Benford Capital Partners. Joseph’s, headquartered in Haverhill, MA, is a leading frozen food manufacturer with a focus on frozen pastas, sauces, appetizers and global cuisines. Terms of the transaction were not disclosed.
Joseph’s CEO, David Zwartendijk, will lead the combined business during this next phase of growth. Under LaSalle’s ownership, Joseph’s expanded its leading position in the foodservice market, partnered with key retail and industrial accounts and remained at the forefront of new product innovation. Mr. Zwarterndijk stated, “LaSalle was a value-added, strategic partner to the Joseph’s team. They had a clear understanding of our business and what it takes to be successful as a differentiated food manufacturer. They provided strategic support and capital resources that helped us better serve our customers and accelerate our growth plan, and we are grateful for their partnership.”
David Murav, Partner at LaSalle Capital, commented, “It has been a rewarding experience partnering with David Zwartendijk and the entire Joseph’s team. Their commitment to developing the finest, chef-inspired frozen pasta and meals and providing best-in-class customer service enables the business to stand in a league of its own. They were fantastic partners with LaSalle, and we wish them continued success in this next chapter.” Jeff Walters, Partner at LaSalle Capital, added, “The management team did an incredible job scaling the business and navigating through a challenging economic environment. We wish the team the best moving forward.”
Piper Sandler served as financial advisor, and Barclay Damon LLP served as legal advisor, to Joseph’s in connection with the transaction.
If you have any questions regarding this transaction or would like to discuss opportunities in the food & beverage industry, please contact David Murav, Andrew Dzwonchyk, or David Taiclet of LaSalle Capital at (312) 236-7041.
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