Al Cohen’s Bakery has a new owner: Chris Covelli, who has been running the business since 2019. He bought out his partners from Gioia Capital and Robert Drago, who helped acquire the bakery four years ago. The terms of the deal were not disclosed.
The East Side bakery, which has a long history dating back to the 1880s. Under the new ownership, the bakery has made many improvements and changes, and has seen consistent growth in its sales.
One of the former partners, Richard Gioia, said that the bakery was a profitable investment for his firm and the team, and that they agreed to sell their shares to Covelli at the right moment.
“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 is looking forward to expanding the bakery’s reach, especially as a supplier of pizza dough to restaurants and supermarkets.
He also said that he is considering moving the bakery to a new location, where he can have more space and better equipment.
“For us to go to the next level, a new facility is imminent, both to get some better equipment, and to get us to more capacity,” he said. “Right now, we’re rolling our sleeves up and taking a look and talking to some different developers.”
The bakery will always have a connection to Broadway, where it is currently located, but Covelli said he is open to exploring other options for the future of the business.
