WINDERMERE, FLA. — Private equity firm Silas Capital has provided an undisclosed amount of capital to Vintage Italia, the maker of Pasta Chips brand pasta snacks, to be used to accelerate the growth of the Pasta Chips brand by expanding distribution, introducing new products and engaging with snack food consumers.
“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 Jerry Bello, founder of Vintage Italia.
Silas Capital, a New York-based early-stage consumer private equity fund, connected with Pasta Chips on CircleUp’s on-line private equity investment platform. The deal includes financing as well as the addition of Silas Capital managing partner Frank Lin to Pasta Chips’ board. CircleUp’s on-line investment platform allows companies from different parts of the country to 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,” Mr. Lin said. “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.”
Launched in late 2013, Pasta Chips finished its first full year of business in 2014, and the company said it is on track to double sales in 2015, and by the end of this year Pasta Chips will be in 80% of all grocery stores across the United States.
Pasta Chips were inspired by the gently baked fresh pasta that is drizzled with olive oil and served up in traditional Osterias. Pasta Chips are made with semolina flour, ancient grains and Italian herbs. The chips are cholesterol-free, and contain 60% less fat than potato chips and 30% less fat than pita chips. The chips are available in six flavors: marinara, Alfredo, spicy tomato basil, garlic olive oil, Mediterranean sea salt and vegetable.Founded in 2011, Silas Capital’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 companies like Casper, Ringly and Tracksmith in its venture portfolio.