Livingstone Scoops Growth Capital for Ciao Bella Gelato
May 2008
Livingstone is pleased to announce the successful growth equity raise for its client the Ciao Bella Gelato Company ("Ciao Bella"), from Encore Consumer Capital and Sherbrooke Capital Partners. The transaction will provide the company with the capital and value-added expertise needed to affect its rapid expansion into the specialty and mainstream grocery channels.
Founded in 1983 in New York City, Ciao Bella is a manufacturer, retailer, and marketer of ultra-premium gelato, sorbet, and other frozen desserts. The company is the only U.S.-based gelato manufacturer with a national presence, and the Ciao Bella® trade name has become one of America’s most rapidly-emerging brands. Oprah named Ciao Bella as one of her “favorite things” in 2007.
F.W. Pearce, Ciao Bella’s Chief Strategy Officer, said “This is an exciting transaction for us at a critical point in our company’s history. We will continue to focus on making the very best product possible, and are pleased that even more consumers will now be able to find Ciao Bella gelato and sorbet in their local stores.”
Livingstone partner Steve Miles commented, “We are proud to have worked with management of a fabled New York institution and such a high-quality branded consumer product. We believe that Encore and Sherbrooke represent ideal strategic partners to assist the company in growing and building the Ciao Bella® brand.”
Ciao Bella represents the 16th transaction closed by Livingstone in 2008, underscoring the firm’s ability to provide results for its client companies.
For further information contact:
Steve Miles
T: 312 670 5901
E: miles@livingstonepartners.com
