Advantage Capital Agribusiness Partners (ACAP) announced it has agreed to lead a $3 million financing round for Florida-based Vintage Italia – the manufacturer of Pasta Chips, a snack chip made from pasta dough. The round also includes Silas Capital and Emil Capital Partners.
Vintage Italia is positioning its Pasta Chips as a higher-protein, more nutritious alternative to traditional potato chips, and states that it will use the proceeds from the investment to fund the growth of the company’s brand and to support the release of new products through large-scale retailers including Wal-Mart, Safeway and Costco.
“We’re the first in the industry to create the only snack food made from fresh pasta dough,” said Bello, founder and CEO of Vintage Italia. “We created Pasta Chips as a healthier alternative to the bland, overly processed options in the deli section, and we’re dedicated to finding new ways of offering our customers quality, gourmet taste and an elevated snack food product that has greater focus on nutrition.”
ACAP is a $154.5 million fund partnership between Advantage Capital Partners and nine Farm Credit organizations that is licensed as a Rural Business Investment Company (RBIC) by the U.S. Department of Agriculture (USDA). The fund focuses on businesses involved in the production, processing, and supply of agricultural products and on providing funding to rural U.S. agribusinesses.
Some of ACAP’s early investments include funding for irrigation management systems company Hortau, certified organic herb supplier Shenandoah Growers, bulk botanical and herb supplier American Botanicals, and crop residue supply chain solutions company Pacific Ag.
ACAP’s more recent investments, however, have been focused further downstream. The fund recently announced a $3.7 million investment in Austin-based startup, NuturMe, a maker of organic quinoa-based baby and toddler foods and snacks, before announcing a commitment to Hip Chick Farms. Both are companies that cater to consumer demand for transparent, non-GMO ingredients with a focus on no added fillers, preservatives or sugars.
Vintage Italia is also positioning itself as a ‘better for you’ company, stating that its baked semolina chips offer a higher level of nutrition than mainstream snacks through the inclusion of ancient grains and herbs. The company also touts the fact that its chips contain 60 percent less fat than potato chips and 20 percent less fat than pita chips while also being cholesterol-free.
“Since its introduction to the market in 2013, Pasta Chips has been setting a new standard for products in the better-for-you snack aisle,” said Tyler Mayoras, Principal at Advantage Capital. “Vintage Italia is changing the snack brand marketplace and proving that baked chips can be regionally inspired, healthful and tasty.”
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Lynda Kiernan