Pasta Chips snacks maker Vintage Italia has secured funding from Silas Capital via online private equity investment platform CircleUp. No financial terms were disclosed.
WINDERMERE, Fla., May 12, 2015 /PRNewswire/ — Vintage Italia, the maker of Pasta Chips brand pasta snacks, one of the fastest growing, healthier snack food brands in the United States, has received a new growth equity financing from Silas Capital, via private equity marketplace CircleUp. The capital will be used to accelerate the growth of the Pasta Chips brand by expanding distribution, introducing new products and engaging with snackers everywhere.
Pasta Chips is the brainchild of Jerry Bello, a food lover and serial entrepreneur with influence, ownership and innovation behind a number of enormously popular snack food successes, including Sensible Portions, maker of Veggie Straws, which catapulted to $100 million in annual sales in five years (acquired by Hain Celestial) and Sheila G’s Brownie Brittle, which experienced record annual sales growth in under three years.
“We are delighted to have an experienced partner like Silas Capital helping us accomplish our mission; to provide first-of-its-kind snack foods to those who care not only about what they eat, but also about the sheer joy of snacking,” said Bello.
Silas Capital, a New York-based leading early-stage consumer private equity fund connected with Pasta Chips on CircleUp’s online private equity investment platform The deal, which includes financing as well as the addition of Silas Capital Managing Partner Frank Lin to Pasta Chips’ board, was completed just six weeks later. CircleUp’s online investment platform allowed companies from different parts of the country to quickly meet, communicate and execute a deal.
“Jerry Bello has an exceptional knack for creating and bringing to market delicious, better-for-you snacks that consumers absolutely love,” said Lin. “He’s the type of entrepreneur that we love to partner with, because he’s passionate and also knows how to build a successful business.”
“Enabling these kinds of partnerships—between an investment firm with deep experience in the space, and a unique and promising consumer brand—are the reasons CircleUp exists,” said CircleUp CEO Ryan Caldbeck. “Silas Capital has a strong track record in consumer goods, backing popular brands like Bare Snacks. We’re honored to play a role in helping exceptional consumer brands, often overlooked by traditional VC firms, secure the resources and support they need to thrive.”
In 2014, Pasta Chips finished its first full year of business with significant sales. The company is currently on track to double sales in 2015, and by the end of this year Pasta Chips will be in 80 percent of all grocery stores across the United States.
About Vintage Italia Pasta Chips: Born out of the hills of Tuscany, Pasta Chips were inspired by the gently baked fresh pasta that is drizzled with olive oil and served up in traditional Osterias. The first to recreate this rich, traditional food, Pasta Chips are made with the semolina flour, ancient grains, and Italian herbs that were celebrated over 800 years ago. Artisanal Pasta Chips are truly the perfect chip. Whether straight from the bag, dipped, or topped & served, they are a great source of protein, are cholesterol-free, and contain 60% less fat than potato chips and 30% less fat than pita chips. In five delectable flavors inspired by the sauces and tastes of Italy, Marinara, Alfredo, Spicy Tomato Basil, Garlic Olive Oil, Mediterranean Sea Salt, and now Veggie, Pasta Chips are available at major retailers across the nation. (www.pastachips.com)
About Silas Capital: Silas Capital is an early-stage private equity firm investing in the next generation of consumer brands. Formed in 2011 by former entrepreneurs and investors with a long track record of success across consumer, retail, internet and technology sectors, the firm differentiates itself by being one of the few experienced firms that specialize in early-stage consumer products and retail companies. The firm’s investments range from healthy food companies like Bare Snacks to fashion brands such as Proenza Schouler in its growth equity portfolio, to start-up darlings like Casper, Ringly and Tracksmith in its venture portfolio.
Please visit www.silascapital.com for more information.
About CircleUp: CircleUp’s mission is to help entrepreneurs thrive by giving them access to resources, from capital to advice. The company’s online marketplace connects privately held consumer and retail companies with direct equity investments from accredited investors. Through partnerships with leading companies including General Mills, P&G, Johnson & Johnson and Virgin America, CircleUp also provides entrepreneurs with resources and a network of experts. CircleUp has been recognized by CNBC as one of the Top 5 Disruptive Companies and named one of Forbes’ America’s Most Promising Companies. The company’s investors include Union Square Ventures, Google Ventures and Canaan Partners. CircleUp is based in San Francisco. More information is available at www.CircleUp.com.