Tuesday, September 4, 2012
American Food Styles purchases Rock Island, IL-based Mama Bosso Pizza
AFS president explains how the regional frozen pizza brand will serve as a platform from which it hopes to add brand extensions and build a complete, Italian-themed family dinner strategy
(Rock Island, IL) American Food Styles, LLC (AFS), a privately-held company that specializes in the acquisition and management of food companies, has purchased the assets of RCM Smith, Inc, manufacturers of Mama Bosso Pizza, based in Rock Island, IL. AFS is headed by Scott Florence, the former CEO and President of Hill & Valley, Inc. (formerly Nancy’s Pies).
“Mama Bosso Pizza is a regional pizza brand that has a great opportunity for growth,” says Mr. Florence. “Ninety-five percent of Americans eat pizza once a week, and frozen pizza is especially popular here in the upper Midwest where Mama Bosso is based.
“I’m excited to have the opportunity to develop a niche pizza that the dominant manufacturers cannot imitate,” he adds. “Mama Bosso makes their great tasting, all-natural crust in an authentic manner, using malt instead of sugar to create its signature golden texture. The dough is made fresh daily, allowed to rise overnight and then gently pressed into form so the unique blend of sauce, cheese and toppings can be added by hand.
“People want food that is delicious, wholesome, and made with as few processed ingredients as possible,” says Mr. Florence, who is keeping the original Momma Bosso pizza recipe while expanding the brand into new markets and increasing production capacity. “Our plans are to triple the workforce in the next 24 months as well as upgrading packaging and adding new varieties of pizza including, Mexican, barbeque chicken and Hawaiian flavors.”
AFS obtained capital investment financing through the Bi-State Regional Commission (of the Quad Cities) and Rock Island’s Commercial Industrial Revolving Loan Fund. American Food Styles, LLC, provided equity and Quad City Bank & Trust provided additional credit facilities. Lane & Waterman and Timmer & Associates provided legal and financial advice respectively.
Mama Bosso’s History
Mama Bosso Pizza enjoys a 60-year history in the Midwest. Mama Bosso’s restaurant and bar, once a downtown Moline, IL fixture, became one of the first establishments to offer pizza in the region back in the 1950’s. In 1986, the restaurant closed, but the popular pizza has continued to be sold frozen through local outlets for the past 26 years. In 1992, RCM Smith, Inc. purchased the pizza company and expanded distribution beyond the metropolitan Quad City area to include regional grocery stores as far west as Des Moines and north into Wisconsin. Says Florence, “The brand has been growing 25% annually. Former owners Randy and Christine Smith (the co-owners of RCM Smith, Inc.) were wonderful stewards of the Mama Bosso legacy and have been passionate about maintaining the highest quality over the past 10 years.”
Mama Bosso Pizza is currently sold in all the major grocery stores in Eastern Iowa, including the Quad Cities, Iowa City/Cedar Rapids and Des Moines.
About American Food Styles, LLC
American Food Styles, LLC (AFS) is a privately-held company that specializes in the acquisition and management of food companies – both commercial food manufacturing companies and retail food service companies. By bringing sophisticated management techniques and practical experience to the food businesses it acquires, AFS hopes to enhance the value of its holdings through disciplined management, organic growth and improved operations. This makes AFS an ideal candidate for acquiring profitable companies with unrealized growth potential that are managed by owners who desire a short or long-term exit strategy from their business.
AFS is managed by its president, Scott Florence. Prior to founding AFS, Florence was President and CEO of Hill & Valley, Inc. (formerly Nancy’s Pies) and has extensive food manufacturing experience.
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For more information or to arrange an interview with Mr. Florence, please contact:
Mike Bawden
Partner
B&LPR
563.359.8654 – direct
563.343.0411 – mobile
mike@bawdenlareaupr.com – email