Arbor partnered with management, led by the company’s VP of Sales, Jeff Getzkin, and Michael Schultz, a baking industry veteran, on this acquisition. Mr. Schultz previously held senior management positions with Best Brands Corporation, a wholly owned subsidiary of CSM Bakery Products.
“We were drawn to New French Bakery due to the company’s superior quality products and reputation in the baking industry,” said Brody Lynn of Arbor Investments. “The company has thrived under the ownership of Peter Kelsey, who was recently named Minnesota’s Small Business Person of the Year, and we are thrilled to be acquiring a business as it enters its next phase of growth.”
New French Bakery bakes and markets branded and private label take-and-bake, par-baked and fresh artisan breads. Products are sold into the in-store-bakery and foodservice channels across the United States. The company was founded in 1995 and is headquartered in Minneapolis (www.newfrenchbakery.com).
“Arbor’s extensive experience in the food industry made them a perfect partner for New French Bakery, our management team, employees and customers.” said Mr. Kelsey. “I’m very proud of what we have accomplished at New French, and look forward to Arbor, with its resources and capital, building upon the foundation we have laid over the last 18 years.”
Arbor invests in the food, beverage and related industries. The firm has acquired or invested in over 30 food and beverage companies in North America and currently has $600 million of assets under management across three funds. Arbor was founded in 1999 and is based in Chicago (www.arborpic.com).
“We are very excited about our investment in New French Bakery,” said Gregory Purcell of Arbor Investments. “We believe that now more than ever consumers want authentic, high-quality baked goods in their neighborhood grocers’ in-store-bakery. New French Bakery’s customer loyalty is driven by this premise, as the consumer can taste the company’s differentiating product quality versus the competition.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-25-13