Tribe 9 Foods has agreed to purchase Carla’s Pasta for $26.3 million, with plans to build the strongest producer of value-added pastas in the foodservice sector.
A specialty-food manufacturer based in Madison, WI, Tribe 9 Foods acquired Carla’s through a bankruptcy auction in Hartford County, Connecticut, where Carla’s is headquartered.
Tribe 9, which owns gluten-free pasta brand Taste Republic, will officially take over operations of Carla’s Pasta later this month. As a certified B Corp., Tribe 9 is focused on balancing profits with purpose. They plan to continue to operate the manufacturing facilities in Windsor, Conn., preserving production and employees’ jobs.
“Carla’s has such a storied history, providing the most delicious traditional pasta for the restaurant industry,” says Brian Durst, chairman and CEO, Tribe 9 Foods. “At the same time, our Taste Republic brand is rapidly building a leading presence across food industry channels with the most delicious gluten-free, grain-free and vegan pasta offerings. Combined with Carla’s leadership in delicious, value-added traditional pasta, we will be thrilled to provide a complete range of solutions for our customers, including foodservice, industrial, retail, private label, and contract manufacturing.”
More specifics regarding the deal will be shared once the purchase is finalized later this month.
“The pandemic hit us incredibly hard – there’s no doubt about that,” says Sandro Squatrito, Vice President of Business Development for Carla’s Pasta. “While it hurt us to file for bankruptcy, we’re grateful that a value-driven organization such as Tribe 9 will be at the helm going forward. This means people keep their jobs and Carla’s legacy lives on.”
The purchase of Carla’s Pasta by Tribe 9 Foods is anticipated to close April 30th, subject to final approval by the bankruptcy court. Alantra and Robinson & Cole acted as financial and legal advisors, respectively, to Tribe 9 on the transaction.
