Owner of the Popular ‘Love Shack’ Passes the Torch
Venture 7 Advisors, a Burlington-based merger and acquisition advisory firm, announced the successful sale of Vermont Cookie Love®, the popular bakery and creemee ice cream company, to a private party. Vermont Cookie Love®, which operates out of the “Love Shack” on Route 7 in North Ferrisburgh, is known for its line of all-natural cookies and scones. The details of the transaction were not disclosed.
The seller
Former owner Paul Seyler says, “The Venture 7 team structured a sale that honestly exceeded my expectations. They generated five full-price offers, which allowed me to choose a buyer who is passionate about Cookie Love® – a local guy who understands the place of the business in our community, and who will be hands-on, not just a financial investor. Venture 7 laid out all the details and they helped plan the transition so that everything worked out well, not just for me, but for the new owner, as well.”
According to Scott Hardy, a partner at Venture 7 Advisors, “Cookie Love® owner Paul Seyler has built a profitable business over the past 12 years and wanted to pass the torch to a new owner who can take the business to the next level. Cookie Love® was recently named one of Martha Stewart's “10 Delicious Reasons to Love Summer" list, and its cookies were named on the Rachael Ray Show as a "Rachael Ray Snack of the Day".
The new owner
The new owner, Matt Bonoma, moved to Vermont from Colorado two years ago and had been searching for a food business to purchase. He has extensive experience as a consultant to food and beverage businesses, so the idea of running Vermont Cookie Love was a natural fit.
“Since we moved back to Vermont,” says Bonoma,” my family and I live about 10 minutes from the Love Shack, we’ve been fans of their cookies and creemees all along. My wife saw an announcement about Paul’s plan to sell the company. She brought me the article and said, ’’I’m about to change your life’. And that’s exactly what happened.
“Venture 7 did a great job facilitating the back-and-forth communications, keeping the process moving, and overcoming the small roadblocks that always appear during a business sale transaction. And it took only three months, which is unheard-of for that kind of deal.”
Bonoma’s first priority is to keep things running smoothly and to respect the tradition of the Love Shack, which he describes as a real social hub for families in the community. He also has several plans for growing the business.
About Vermont Cookie Love®
Since 2007 Cookie Love® has provided rich, all natural, non-GMO cookies, scones and frozen cookie dough to retail, wholesale, and Internet customers. The Company operates out of the “Love Shack” on Route 7 in North Ferrisburgh, VT. Their products can be found in stores throughout Vermont and beyond, and are baked in many cafes and university dining halls. The Company also sells gift boxes and baskets direct to consumers nationwide on the vermontcookielove.com website.
Vermont is nationally known for its strong food and farm heritage, and enjoys a reputation as a center of artisanal food production. Like other well-known Vermont food companies that started out small, Cookie Love® is a Vermont brand that’s ready to break out into the wider world.