Fund III

Labriola Bakery Company, LLC

Labriola Artisan BreadsAlsip, IL – The assets of Labriola Baking Company, Chicago’s leading artisan bread manufacturer, were acquired by Fund III and other co-investors from Richard Labriola, the founder, in June of 2013.

Started in 1993, Labriola manufactures fresh and frozen artisan breads in its 175,000 square foot bakery in Alsip, Illinois. Fresh artisan breads are distributed through the company’s own route network to hotels, restaurants and retail stores primarily in Chicago, and other cities in the upper Midwest. Labriola’s frozen artisan breads, including its specialty pretzel breads, are distributed nationally to companies operating in the grocery, foodservice and mass merchandising channels.

“The rationale for the sale,” said Rich Labriola, who continues to participate in the ownership of the company and serves as Vice Chairman, Chief Innovation Officer, “was to create a partnership that not only brings additional financial resources to Labriola, but extensive industry expertise as well. As I worked with Plaza Belmont to put this transaction together, I am confident I have found the right partners to accomplish the growth I envision for the company.”

On August 16th, 2017, Plaza Belmont Fund III and the Investor Group sold 100% of the assets of Labriola to J&J Snack Food Corp.

Renwood Mills

Newton, North Carolina — The Mennel Milling Co. and Plaza  Belmont Fund III acquired Renwood Mills, L.L.C. on August 22, 2016 from Renovo Capital and Renwood Opportunities Fund I.

Headquartered in Newton, N.C., Renwood Mills is an 80-year-old flour milling and mix company.  The company was founded in 1935 by G.D. Drum, who acquired what was then known as the Maiden Flour Mill.  Drum operated several mills before building a new facility in Newton in 1961, which became known as Midstate Mills.

Renamed Renwood Mills in 2012, the company operates a 7,500-cwt flour mill and 12-ton corn mill that supply the company’s packing facility.  Renwood Mills produces the Southern Biscuit and TendaBake brands of flour and mix, as well as a variety of private label retail products, food service and custom food service mixes, and wholesale bulk flour.

Mennel Milling and Plaza Belmont partnered on the acquisition to take advantage of both organizations experience and expertise in flour milling.

Mennel has been milling wheat flour for over 130 years and is the seventh largest flour milling company in the United States with five flour mills, ten country grain elevator locations, and two transportation companies.  The company produces a full range of hard, soft and spring wheat flours with total wheat flour capacity of 40,900 cwts. and total mill grain storage capacity of 7,333,000 bushels.

Plaza Belmont partners, John Stout and Bob Parnow, spent most of their operating careers, before starting Plaza Belmont in 1998, in flour milling and related businesses.

Mennel and Plaza Belmont will work with Tommy Lynn, CEO, and the rest of the management team at Renwood Mills to build on the strong foundation and fine tradition of producing the highest quality products and providing outstanding customer service.