BUFFALO, N.Y. — Al Cohen's Bakery on the East Side has changed ownership, but a familiar face is at the helm.
An investment group comprised of Gioia Capital, Chris Covelli and Robert Drago bought the business in 2019, with Covelli serving as the managing partner.
With backing from two silent partners, Covelli this week acquired the Gioia and Drago shares, becoming majority shareholder and CEO. Terms were not disclosed.
Richard Gioia, founder of Gioia Capital, said the bakery has been a success story for his firm and the team.
"We collectively felt that we had four successful years," he said. "We took over a business that needed a lot of work, and made a lot of changes, and grew the business consistently. Mutually, we agreed that this was the right time to make this decision."
Covelli said he plans to continue the bakery's growth, especially as a supplier of pizza dough to restaurants and supermarkets.
Read more of this article from our partners Buffalo Business First.
