Kaho Acquires Kenny’s Great Pies

Kaho Partners has acquired Kenny’s Great Pies in partnership with the company’s management team.

Kenny’s Great Pies is a maker of branded and private label pies, mini pies, pie fillings, and other related products in a variety of flavors including key lime, mango, coconut, lemon, chocolate, and peanut butter. The company’s products are sold through grocery stores, distributors, chain restaurants, and convenience stores.

Kenny’s, led by CEO Gary Muter, was founded in 1989 by Kenny Burts and operates from a 33,000 square foot facility near Atlanta in Smyrna, Georgia.

“Kenny has built an incredible company, and I look forward to leveraging his 30+ years of industry experience to continue to grow this great business,” said Mr. Muter. “Over the last decade, our team has tripled the size of the company, and we are confident that our best days are still ahead of us.”

“Kaho Partners is excited to partner with the incumbent management team to expand the company’s geographic footprint, win new customer relationships, and uphold the culture of innovation, product quality, and food safety that sets Kenny’s apart from its competitors,” said Max Katzenstein, a managing partner and co-founder of Kaho.

“Kenny’s is well-positioned for growth due to its proprietary recipes, diverse portfolio of flavor and format offerings, and ample capacity in its state-of-the-art Atlanta-based facility,” added Griffin Horter, a managing partner and co-founder of Kaho.

Kaho Partners specializes in acquiring family and founder-run businesses with greater than $2 million in EBITDA. The firm has an extended investment horizon and is backed by long-term investors who invest in businesses with the intention of holding them forever. Kaho Partners was founded by Max Katzenstein and Griffin Horter and is based in New York City.

“Partnering with Kaho Partners gives us the long-term capital and strategic resources required to support our growth for decades to come,” said Mr. Burts. “I am excited to continue supporting the company as a senior advisor to the management team.”

Kaho is actively seeking add-on acquisitions for Kenny’s that add complementary customer relationships, channels to market, and product capabilities.

Moore & Van Allen provided legal services to Kaho Partners on this transaction.

© 2020 Private Equity Professional | April 8, 2020

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