London, England-based private equity firm Perwin Advsors has made a strategic investment in Crosta & Mollica, in partnership with its founder, James Orr. Funding details were not revealed in the press release issued on January 9.
Established in 2009, Crosta & Mollica is a certified B-Corporation active in supplying supermarkets and other grocery channels in Britain and continental Europe with “Made in Italy” frozen pizza and other baked goods, ready meals, snacks, gelato, sorbet and other frozen desserts.
Specializing in buyout and growth capital funding solutions, Perwyn on business sectors in the food and Ingredients, technology, services and healthcare services sectors. It will support Crosta & Mollica’s international expansion goals while maintaining momentum in the UK with product innovation, customer service and brand investment.
Orr and the incumbent team will remain with the company and be joined on closing by David Milner, a highly experienced food executive who arrives as chairman having held leadership roles at Tyrrells, Lily’s Kitchen and St. Pierre.
“I am delighted to welcome Perwyn as partners. Their shared vision for the potential of the business matches the ambition of our incredible team. We are only part way towards realizing our goal of becoming a leading global Italian food brand, and Perwyn’s international and sector expertise will help accelerate us towards achieving that,” said Orr.
“We are extremely happy to be collaborating with Crosta & Mollica. Their growth and increasing presence across multiple countries is incredibly impressive and testament to the passion they have for developing top quality products befitting of a premium and relatable brand. The investment aligns perfectly with our food sector expertise and track record in successfully partnering with entrepreneur owned businesses,” commented Gurinder Sunner, a partner at Perwyn.
Incoming Crosta & Mollica Chairman Milner, added: “James and his team have created a truly unique business – their relentless focus on innovation and quality has led to a best-in-class product range spanning the most loved categories of the world’s favorite cuisine. The opportunity for further growth is huge and I am thrilled to be able to join the business at this exciting juncture.”
