Canadian investor Bond Bakery Brands has funnelled capital into local pizza and dough manufacturer Holy Napoli Pizza.
Toronto-based Bond Bakery, described as “a stakeholder-focused investment platform” in baked goods, did not disclose the financial terms of the transaction for the business founded in 2017 by Francesca Galasso and Dave Vukets.
Holy Napoli Pizza produces Neapolitan-style frozen pizza and dough, which are available in Canada through Whole Foods Market, along with a host of other grocers including Thrifty Foods, Fortinos and Avril Supermarché Santé.
Bond Bakery was set up by friends Cameron Loree, Nicolas Mulroney and Matt Cimon.
Its president and CEO Mulroney said in a statement: “Our investment will allow Holy Napoli to immediately increase production capacity and further expand distribution across Canada. At Bond, we look to scale companies and we are thrilled to be able to do so with such a motivated team.”
The deal for Holy Napoli builds on Bond Bakery’s acquisition last month of Coco Bakery, a private-label French pastries manufacturer in Ontario. It has also completed other recent investments in Canada, such as last year’s purchase of Portofino Bakery, a producer of artisanal-style branded bakery products, and Pace Processing, which makes pizza, cakes and other sweet baked goods.
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Holy Napoli’s chief executive Galasso added: “I started Holy Napoli out of a love for handmade, Neapolitan-style pizza and was determined to make the best tasting pizza in the freezer aisle. We are excited to announce our partnership with Bond and further expand our product offerings, distribution and brand awareness.”