Through a new investment by MVP Capital Partners, a private equity firm located in Radnor, Pennsylvania, Spread Bagelry is readying itself to increase its already far reaching and loyal customer base. The critically acclaimed bakery and restaurant known for its Montreal style wood oven bagels is in the process of identifying new locations, expanding its leadership team and building out an e-Commerce platform to provide the quality and experience customers have loved since 2010.
With consistent lines out the door, Larry Rosenblum, founder and CEO of Spread Bagelry, along with his wife and co-founder Gigi Arnuti, decided it was time to work with a major investor to grow the company and satisfy the high demand for their artisanal bagels, spreads and unique menu offerings.
The MVP Capital team will help provide scalability and hire additional senior leadership. Larry will continue as CEO and President of Spread and will focus on growing the company with his passion for culinary and hospitality excellence.
Together, MVP and Spread plan to expand within the Greater Philadelphia region and into new markets across the country. But brick and mortar stores are only one part of the new corporate strategy. To respond to repeated requests from patrons who frequent their two Philadelphia locations, Spread will introduce an online storefront to engage customers and finally ship their bagels and related products to various destinations.
“When we started Spread Bagelry, we knew we had developed and introduced a concept that was unique to the US, and that customers would want to experience and love. In response to demand, this new opportunity allows us to extend what we offer even farther. At the same time, we are committed to continuing to provide every aspect of the old world hospitality, quality bagels and all other items we offer that make us really special,” Rosenblum says.
Rob Brown, Vice President of MVP Capital Partners, explained MVP’s reason for making the investment. “As a local Philadelphian, my family and I have been eating at Spread for years, and as a firm, we have the experience and partnerships that will create synergies, scale the business and continue the brand promise built by Larry and his entire team.”
Rosenblum described his interest in collaborating and partnering with MVP: “Spread created resurgence in demand for handcrafted, artisanal bagels, and working with MVP will allow us to expand to markets across the US where the food scenes are dynamic and looking for the quality products that only Spread can provide.” Brown detailed that the MVP investment is part of the firm’s overall hospitality strategy and aligns strongly with its experience with consumer brands. “When we see a brand that has a high-quality, differentiated product with a loyal following, that’s something we want to support.” He adds that Rosenblum met MVP’s high standards for its management teams. “Larry and Gigi are true entrepreneurs: creative, persistent and dedicated to quality products and customer experience.”
Finally, Brown described the demand for quality bagels as “enormous but, in so many locations, underserved.”
“But not for long,” he adds.