Recently it was announced that Riverside Company, a United States based worldwide private equity firm, had invested in Mississauga, Ontario based Nustef Foods, makers of Italian-inspired pizzelle waffle cookies and artisan crackers, under the Reko brand.
While the terms of the investment remain unknown, Riverside Company is focused on the potential to expand what the company describes as the “fast-growing specialty cookie space” with Nustef, which was founded more than 30 years ago in 1985. Suzy Kriscunas, Riverside Managing Partner said that Nustef was founded by Ces Nucci to share his Italian family recipe across North America, and is the biggest manufacturer of pizzelles on the continent today.
The pizzelle cookie recipe dates back hundreds of years to the Italy’s Abruzzo region. They are a low-calorie option in the increasing specialty cookie space, crafted in the traditional artisanal style, delicate and baked fresh-to-order.
Richard Lan, Senior Food and Beverage Advisor at Riverside, said that the company is super excited about working with Nustef, a company that has been constrained in terms of capacity. Lan said the investment will allow Nustef to operate more efficiently, add new customers, and produce new product lines. Riverside partner, Meranee Phing, said that the company can assist Nustef with support necessary to increase production while maintaining quality and increasing efficiency, helping the company to expand its customer base in a rapid manner.
Nustef’s customers are primarily based in Canada and the U.S. and include stable, quality customers in mass, club, grocery, and foodservice channels.
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