Acquisition Expands Seviroli’s Product Offering and Bolsters Customer and Vendor Relationships

Seviroli Foods LLC (“Seviroli”), a portfolio company of Mill Point Capital LLC (“Mill Point”) and a leading manufacturer of frozen pasta and other food products and importer of specialty foods, announced that it has acquired a portfolio of Italian food products (including the related intellectual property and equipment) (the “Business”) from Ajinomoto Foods North America, Inc. (“Ajinomoto”). The Business is comprised of specialty Italian frozen pasta products, including ravioli, tortellini, rolled pastas and other Italian foods.

The acquisition expands Seviroli’s product offering, primarily in foodservice and retail end-markets, while also broadening its relationships with key customers and suppliers. The Business’ leading brands, such as Bernardi, Rotanelli’s and Mona’s, are well recognized in the industry. The combined product and brand portfolio managed by Seviroli will present an opportunity to accelerate growth and augment its offerings to customers across various channels.

“The addition of Ajinomoto’s portfolio brands of Italian food products accelerates our long-term growth trajectory and strategic vision for our company. The core pillar of Seviroli is excellence in serving our customers across all food channels and this acquisition enhances our ability to do so,” said Paul Vertullo, President and Chief Executive Officer of Seviroli.

“The sale of our Italian frozen pasta business will allow us to shift our priority on growing our core products, such as gyozas and potstickers, for continued long-term success,” said Hiroshi Kaho, CEO and President of Ajinomoto. “This renewed focus will allow us greater flexibility in our production capabilities for our core products to better serve our customers.”

“We are excited about the addition of Ajinomoto’s pasta brands to Seviroli. The acquisition allows us to drive greater category depth in foodservice and retail channels and strengthen our market capabilities as a provider of high-quality frozen pasta products. Seviroli is well positioned to continue its growth story and capitalize on the opportunities ahead,” commented Aileen Wang, Principal of Mill Point.

About Seviroli Foods

Seviroli is a leading manufacturer of frozen pasta and other food products based in Garden City, NY. Seviroli manufactures products for the foodservice, wholesale club, and grocery/retail channels, offering a variety of items including ravioli, tortellini, stuffed shells, manicotti, short cut ready-to-eat pastas, meal kits and other products. Seviroli operates out of 4 manufacturing facilities in New York, New Jersey, and Massachusetts with the capability to serve customers nationally. Seviroli also imports specialty food products under its Vertullo brand, 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.seviroli.com.

About Mill Point Capital

Mill Point Capital LLC is 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’s experienced team of investors and Executive Partners seek to enhance the value of portfolio companies by executing transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

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