(MENAFN- EIN Presswire) Family-owned Utica, NY Produce and Food Distributor sold to owner operator. I've been doing this for over 40 years. I could see what needed to be done to grow the company, but I honestly didn't have the energy to make the big changes in the business.” - Sam Masi
BURLINGTON, VERMONT, UNITED STATES, March 17, 2023 /einpresswire.com / -- venture 7 advisors , a Burlington-based merger and acquisition advisory firm, announced the recent sale of produce and food distributor carlo masi sons and daughter of Utica, New York to private investor Samuel DiSalvo. Venture 7 served as the exclusive advisor to the Masi family in the transaction. The details of the transaction were not disclosed.
The Company was founded in 1958 by Carlo and Elizabeth Masi, selling produce out of their garage to local stores and foodservice customers. In 1960 they were first company in Central NY to invest in refrigerated trucks. Until the recent sale, the business was owned by four of Carlo and Elizabeth's seven children. They sell a complete line of fresh fruits and vegetables, along with dairy, meats and paper products.
Sam Masi, former President of the company said, 'I've never received a paycheck from anyone except the Carlo Masi company, and I've been doing this for over 40 years. I could see what needed to be done to grow the company, but I honestly didn't have the energy to make the big changes in the business. I decided to find a buyer with the drive to make things happen. But this business is in my blood, and I hoped I could stick around to do the things I know and love, but on a reduced schedule. And that's exactly what happened.'
Samuel DiSalvo, the new owner says, 'I always wanted to own a business myself, but my career went in different directions. When I reached a certain age and my kids were grown, I decided that the time was right to pursue that dream. Carlo Masi Sons and Daughter has been firing on all cylinders all along, and that has continued since I arrived. I feel like almost a member of the family now and there's a lot of mutual respect all around. The experience is shaping up to be all I hoped it would be.'
About Venture 7 Advisors:
Venture 7 Advisors is a merger and acquisition advisory group that assists the owners of small and mid-sized companies to plan and complete the sale of their business. We find the best buyer to meet each owner's financial and legacy goals. The company represents clients in consumer products, distribution, manufacturing, B2B services, construction, telecommunications, and eCommerce. Venture 7 maintains offices in Burlington, Vermont, the Hudson Valley, New York, and Western Massachusetts.
About Carlo Masi Produce
Carlo Masi Sons & Daughter (now doing business as“Carlo Masi Produce”) distributes a complete line of fresh fruits and vegetables, along with dairy, meats and paper products to restaurants, schools, institutions and retail stores in central New York State.
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