Arbor Investments has acquired Best Maid Cookie Company, a manufacturer and marketer of branded and private label gourmet cookies. Best Maid will join Arbor’s Le Petit Pain baking platform which includes New French Bakery, a Minneapolis-based commercial bakery that manufactures branded and private label take-and-bake and artisan breads.
Best Maid Cookie Company, founded in 1943 by Swedish immigrant baker Arthur Erickson, is a manufacturer and marketer of branded and private label gourmet cookies and dessert bars in both fully baked and frozen dough formats. Best Maid’s products are sold into the foodservice, convenience store and fundraising channels across the United States. The company will continue to operate out of its existing 100,000 sq. ft. manufacturing facility and headquarters in River Falls, WI (www.bestmaid.com).
“Best Maid enjoys a distinguished reputation in the sweet goods industry for product quality, innovation and customer service,” said Brody Lynn, Vice President at Arbor Investments. “The company’s management and employees have built a remarkable business and culture, and the complimentary product offerings at New French Bakery will enable both companies to provide greater service to their customers.”
Arbor’s Le Petit Pain baking platform is overseen by Arbor Operating Partner, Mike Schultz, who has twenty years of experience in the baking industry, including time as an executive at CSM Bakery Products and Minneapolis-based Best Brands. “Best Maid is recognized for its superior quality in cookies and bars, which makes it an excellent fit with our current platform of premium artisan breads,” said Mr. Schultz.
Arbor invests in the food & beverage and related industries. The firm has acquired or invested in over 32 food & 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).
In connection with the acquisition of Best Maid, Arbor partnered with management, led by the company’s CEO, Deb Dartsch, who is founder Arthur Erickson’s daughter, and President, Ron Thielen, both of whom will continue to manage Best Maid. “We are elated to be partnering with Arbor. Their extensive and unparalleled experience in the food industry, and in particular the baking segment, made them a perfect fit for Best Maid, our management team, employees and customers,” said Ms. Dartsch. “Over the past 70 years, the company has experienced tremendous growth adhering to our core principles, and we look forward to Arbor continuing that legacy and leading us in our next phase of growth.”
2014 PEPD • Private Equity’s Leading News Magazine • 11-4-14
