Gryphon Acquires The Original Cakerie

Gryphon Acquires The Original Cakerie

original cakerie nf1Gryphon Investors is making a majority investment in The Original Cakerie, a maker of frozen desserts for retail and foodservice customers across North America. President and CEO Dave Hood will continue to lead the company following the acquisition by Gryphon.  The transaction is expected to close in early December.

cakerie nf45The Original Cakerie is a manufacturer of frozen desserts sold into the North American retail and foodservice sectors. Products include three layer cakes; two layer cakes; single layer cakes; dessert bars; and brownies. The company was founded in 1979 by Doug McFetridge and Kent Norris and is headquartered in Delta, BC with an additional manufacturing facility in London, ON (

Keith stimson nf1“Consumers value affordable indulgence across economic cycles, and they are increasingly searching for quality products and clean-label ingredients when they choose to indulge,” said Keith Stimson, Partner and Head of Gryphon’s Consumer Group. “We have had a proactive focus on establishing a platform in the high-quality premium baked goods space, in order to benefit from these consumer trends, as the in-store bakery sections of supermarkets as well as foodservice customers continue to look for high-quality dessert offerings.”

Gryphon Investors makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $35 million to $100 million of capital in companies with sales ranging from $50 million to $400 million. Sectors of interest include business services, consumer and retail, automotive, chemical, general manufacturing, health care and hotels. Gryphon is based in San Francisco (

dennis obrien nf1Among Gryphon’s previous investments in the food industry are Flagstone Foods, Trusthouse Services Group, and Eight O’Clock Coffee. “Gryphon has a long-standing track record of success investing in the food and beverage space, and assisting founder-owned businesses like The Original Cakerie in further developing their category leadership,” said Dennis O’Brien, Partner and Head of Gryphon’s Operations Resources Group. “The Original Cakerie is a uniquely attractive platform for expansion in the North American baked goods sector, and we believe Gryphon’s Operations Resources Group and executive advisors will provide management with highly relevant and practical resources as they continue to build the company.”

BMO Capital Markets was the exclusive financial advisor to Gryphon and Houlihan Lokey acted as exclusive financial advisor to The Original Cakerie on the transaction.

© 2015 PEPD • Private Equity’s Leading News Magazine • 12-1-15

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