News
Crosta & Mollica receives private equity backing, appoints new chair
Founded in 2009, Crosta & Mollica is a B-Corp certified, UK-based Italian grocery brand that manufactures products across multiple categories including pizza, gelato and snacks. Its ranges are listed with several retailers across the UK and Europe, including Tesco, Sainsbury's, Waitrose, Morrisons and Co-op.
Meanwhile, Perwyn specialises in buyout and growth capital across numerous business sectors including food and ingredients. The firm will now support Crosta & Mollica as it looks to solidify its position in the UK and grow internationally through product innovation and brand investment.
Crosta & Mollica founder James Orr and the current team will remain in place, with David Milner set to arrive as chair. Milner has worked in leadership roles for multiple food businesses including Tyrrells, Lily’s Kitchen and St Pierre.
Orr said he was “delighted” to welcome Perwyn as a new partner, adding that the firm has a “shared vision” for Crosta & Mollica that “matches the ambition of our incredible team”.
“We are only part way towards realising our goal of becoming a leading global Italian food brand and Perwyn’s international and sector expertise will help accelerate us towards achieving that,” concluded Orr.
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 favourite cuisine. The opportunity for further growth is huge and I am thrilled to be able to join the business at this exciting juncture.”
Finally, Gurinder Sunner, partner at Perwyn, said that the firm was “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,” Sunner commented.
“The investment aligns perfectly with Perwyn’s food sector expertise and track record in successfully partnering with entrepreneur owned businesses.”
In other news, Heineken has sold the site of the historic Caledonian Brewery, which first opened in 1869, to property development firm Artisan Real Estate.
