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.