LaSalle Capital sells DeIorio Foods

Chicago / IL. (lsc) LaSalle Capital is pleased to announce the sale of its portfolio company, DeIorio Foods Inc., to an investment group led by Rudolph Capital. DeIorio, headquartered Utica, New York, has over 200 employees and is a leading supplier of premium frozen dough products sold throughout the country.

Under LaSalle’s ownership, DeIorio significantly grew sales in both the foodservice and retail channels nationally and expanded its production capabilities, including gluten free and plant-based products. George Lampros, DeIorio’s CEO, stated, «It was a pleasure working with the LaSalle team to build the leading frozen dough supplier in the northeast. The entire DeIorio team enjoyed our partnership with LaSalle Capital. LaSalle provided strategic support and capital required to effectively grow in the evolving frozen dough market. We had an excellent relationship with LaSalle and our board of directors and remain very bullish about the opportunities that lie ahead for the Company.»

Jeff Walters, Managing Partner at LaSalle, commented, «It has been remarkable to witness the transformation of DeIorio from a regional manufacturer of predominately frozen dough balls sold to local restaurants, to a national supplier of diverse, premium frozen dough products. I give a lot of credit to the DeIorio management team for shaping the business into what it is today.» David Murav, Principal at LaSalle, added, «DeIorio is as well positioned as it has ever been, and we wish the team continued success through this next chapter of growth.»

Richard Rudolph, founder of Rudolph Capital, said in another news release, «We are excited to launch our new firm with the acquisition of DeIorio Foods Inc. With 95 years of history, it is a perfect fit for us and the management team has very successfully positioned the company for future growth.»