CLEVELAND, OH (November 20, 2017) – Blue Point Capital Partners, in partnership with management, announced today the acquisition of its ninth Blue Point III platform investment, Italian Rose Gourmet Products. Italian Rose is a leading manufacturer and distributor of premium salsas, dips, sauces and spreads to major retail and foodservice channels.
“We are pleased to be able to invest alongside the founders and current management to support Italian Rose in building on its long history in the food industry. We were drawn to the Company’s leading position with fresh, better-for-you products and believe Italian Rose is an excellent addition to the Blue Point portfolio,” said John LeMay, a Partner with Blue Point.
Italian Rose, headquartered in West Palm Beach, Florida, has offered excellence in sourcing, processing, and packaging fresh produce and herbs for over 30 years. Italian Rose specializes in products such as salsas, minced garlic, horseradish, ginger, prepared sauces, dips, and marinades. These products can be found primarily in the refrigerated section at the perimeter of major grocery and club retailers. The Company serves the foodservice channel as well.
“Italian Rose brings with it the best in fresh gourmet food products, and partnering with Blue Point will allow the Company to build on its strong track record of delivering the freshest and highest quality products on the market,” said Angelo Fraggos, an Operating Executive with Blue Point and newly appointed CEO of Italian Rose. “We see strong opportunities to broaden the Company’s market presence through a consumer-driven strategy centered on research and innovation.”
“As the Company’s first institutional investor, and with strong relevant operating executive support, we are excited about our ability to further build Italian Rose’s market leadership within its segments. As the food industry continues to evolve and consumers demand more fresh and unique products, Italian Rose has the right recipe for continued growth. We’re excited to partner with this outstanding Company and team,” said Jon Pressnell, a Principal with Blue Point.
Blue Point Capital Partners is a private equity firm managing over $825 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization. The Blue Point group has a 27-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses that generate between $20 million and $200 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS, LLC
127 Public Square, Suite 5100
Cleveland, OH 44114
Partner
(216) 535-4707
Principal
(216) 535-4713