Seviroli Foods Partners With Mill Point to Expand Growth
Seviroli Foods, Inc., manufacturer of frozen pasta and other food products, and Vertullo Imports LLC, a specialty food importer, have partnered with Mill Point Capital LLC, a middle-market private equity firm focused on control-oriented investments in the business services, industrials and technology sectors in North America.
eviroli has been family owned and operated since its founding in 1960 and provides a leading line of chef-inspired artisan-filled pastas, sauces and Italian desserts. Joseph Seviroli Jr., CEO and second-generation owner of Seviroli, will continue in his role alongside President and COO Paul Vertullo and other key members of the management team.
“We are excited to continue building upon my family’s proud 62-year operating history alongside Mill Point,” Seviroli said. “Seviroli’s track record of growth, innovation and quality customer service are expected to be significantly enhanced through our partnership.”
“The partnership and combination of resources with Mill Point accelerates our ability to continue Seviroli’s and Vertullo’s long-term growth trajectory and execute strategic initiatives,” Vertullo said.
“We have been thoroughly impressed by the strong operating foundation and culture Joe, Paul and the rest of the Seviroli team have created. I am confident that with their expertise and Mill Point’s insight, the company will further elevate its product ideation, customer relationships and operational excellence,” said Jim Schubauer, Mill Point’s executive partner and executive vice chairman of Seviroli.
“Throughout its history, Seviroli has continually distinguished itself as a leader in its sector. We are committed to maintaining the core values that the Seviroli family and team have created and look forward to pursuing numerous growth avenues ahead,” said Dustin Smith, partner of Mill Point.
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.
Vertullo imports 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.
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the business services, technology and industrials sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, N.Y.
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Niman Ranch Farmer Advocate Honored by Forbes
Elle Gadient, 27, farmer advocate for premium meat brand Niman Ranch, has been recognized on the prestigious 2023 Forbes 30 Under 30 Food and Drink list. The annual list features young leaders and entrepreneurs “redefining the way we eat, drink and think about consumption.” This acknowledgement honors Gadient’s dedication and passion for supporting independent U.S. family farmers and ranchers and sustainable agriculture.
“I am incredibly humbled and honored to be included on this list along with such impressive leaders,” Gadient said. “Growing up on a farm, supporting fellow small family farmers and sustainable agriculture has always been core to who I am. I am so thankful I am able to spend my days helping farming and ranching families, like mine, in the Niman Ranch network and beyond.”
Gadient grew up on her family’s diversified farm in eastern Iowa raising livestock, including Niman Ranch pigs, and will be the fifth generation in her family to farm in the Midwest. Gadient serves as farmer advocate at Niman Ranch, charged with providing support, education and community building among the brand’s network of hundreds of small to mid-size, independent family farms and ranches across the country. All Niman Ranch farms are Certified Humane and committed to raising livestock without antibiotics, hormones or crates.
“Since its establishment with the company’s founding farmers, Niman Ranch has built a model that ensures small, sustainable farmers have a market in a rapidly changing food system,” said Chris Oliviero, general manager of Niman Ranch. “Elle has taken the baton, providing a central hub and company voice for our farmer and rancher network, understanding firsthand the challenges farmers and rural communities face in today’s agriculture climate.”
While the average age of farmers in the United States is nearly 60, Niman Ranch’s average farmer age is 43 years old. This is credited to the opportunities and support the company, many led by Gadient, provide for beginning farmers. Since joining the Niman Ranch team in 2018, Gadient has been a key leader in several impactful farmer support programs including a farmer mentor program that matches beginning farmers with more seasoned producers as well as a new grant program to help young farmers improve their operations and adopt regenerative practices.
Gadient graduated from Wartburg College in Waverly, Iowa, with majors in environmental science and business administration. Throughout college, Gadient was a Niman Ranch Next Generation Foundation scholarship recipient, including being awarded the first Phyllis Willis Pioneer Award in 2017, recognizing her passion for sustainability. In addition to her role as farmer advocate, Gadient serves as secretary for the Niman Ranch Next Generation Foundation and regularly travels back home to Iowa to help on the family farm.
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Pairwise Food Tech Company Adds Overly to Board
Pairwise, a food tech company that uses gene editing to develop new varieties of fruits and vegetables, has added its second independent board member, Harry Overly.
Overly serves as chief executive officer of Flagstone Foods, headquartered in Minneapolis, one of the largest manufacturers and distributors of private label snacks in North America. A portfolio company of Atlas Holdings, LLC., Flagstone is a leading supplier of innovative, premier snack mixes, mixed nuts and dried fruit products. Overly also serves as a board member of Flagstone Foods.
Overly serves as the executive chairman of the board at Sun-Maid Growers of California, where he served as president & chief executive officer for five years. He is best known throughout his 20-year career as a visionary, leading new product innovation for the category-leading food brands for which he has worked, with significant executive-level experience in marketing, sales, and strategy.
The addition of Overly to the Pairwise board of directors is timely, as his diverse leadership and expertise in introducing and managing healthy food brands and products will inform the launch of Conscious Greens, a portfolio of new varieties of colorful, nutrient-dense salad greens coming to the U.S. market in 2023.
“Harry’s experience leading organizations focused on delivering innovative healthy snacking and fruit products is key to our goal of bringing healthier snacking options to consumers,” said Tom Adams, chief executive officer and co-founder of Pairwise. “Harry’s strategic and operational leadership in the snacking industry will be key to our company’s success,” Adams said.
Prior to joining Sun-Maid, Overly was the CEO of North America for Deoleo, the seller of the world’s largest olive oil brands, best known in the US for Bertolli Olive Oil. Before leading Deoleo’s business, Harry was the chief customer officer of TreeHouse Foods, the largest private label-focused food manufacturer in the United States with sales of approximately $7 billion. Before TreeHouse, Harry held several positions within marketing, sales, and product innovation within Kraft Foods, The Wm. Wrigley Jr. Co. and BestSweet, Inc.
In February 2021, Pairwise raised $90 million in a successful series B funding round, bringing total fundraising to $115 million when combined with the series A funding round. Additionally, Pairwise has a $100 million, five-year collaboration with Bayer Crop Science to advance gene editing tools in row crops. Pairwise is currently developing new types of leafy greens, berries, and cherries. In four years, the company has grown to over 150 employees with additional anticipated growth in 2023 as the company enters retail and food service.
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