A group of investors and Italian inventors have handpicked a long-time Indianapolis bakery to help bring to the U.S. a newfangled food called Pizza Cone.
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Pizza Cone is exactly what it sounds like: A cone made of pizza dough stuffed with ingredients like cheese, pepperoni and pizza sauce and then eaten on the go like an ice cream cone.
Taylor's Bakery, founded in 1913, has signed an agreement with Hilton Head, S.C.-based Pino Gelato to be the sole producer of the cone for all of North America.
The equipment arrived at Taylor's a few weeks ago and production is set to begin in a month.
"Everyone thinks it's going to be the next hula hoop," said John Allen, who runs Taylor's along with his two sons, Matt and Drew. "It's been very secretive and under the radar."
The cone already is available in Italy, Japan, Korea and Australia, where it is marketed as Pizza Hands.
The product was invented by the Italian company Conoitaliano, which recently formed a joint venture with Pino Gelato, giving it exclusive retail rights to distribute Pizza Cones in North America.
Taylor's was chosen to manufacture the cones because Pino Gelato owner Ramona Fantini is married to John Jacobs, an Indiana University graduate and Indiana businessman. He owns Sataria Distribution & Packaging, a food distribution center in Indianapolis.
"John obviously knew about Taylor's and their great reputation," Fantini said.
Right now the cone is being sold only in Hilton Head at Fantini's retail store. But she said she hopes Indianapolis residents will be able to buy them within the month.
The company still is completing licensing and legal deals for the cone.
Fantini says several varieties of cones will be on the market, including Mexican-stuffed, Jersey-style hot dog and a breakfast cone.
The average price for a cone, which holds the ingredients of a slice-and-a-half of pizza, is $3.25 to $3.50.
The pizza business has suffered from the economic slump as it deals with competition from other categories, reduced consumer spending and the rising cost of basic ingredients such as cheese.
However, many pizza operators have managed to weather the economic storm much better than higher-priced restaurants, particularly the to-go pizza category like Pizza Cone or Papa Murphy's. The take-and-bake pizza company's sales rose 17 percent in 2008.
It's the low-priced value that consumers are looking to when they eat out, said Jeremy White, editor in chief of Pizza Today.
A Pizza Cone for three bucks might fit the bill.
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