Bakewise Brands, a portfolio company of Ancor Capital Partners and Merit Capital Partners, has been sold to Tokyo-based Yamazaki Baking Company, the world’s and Japan’s largest bread-baking company.
Merit and Ancor formed Bakewise Brands in 2010 as the corporate identity for Fleischer’s Bagels, which they acquired in 2005, and Tom Cat Bakery, which they acquired in 2008.
Fleischer’s Bagels is a manufacturer of refrigerated and frozen bagels sold to grocery chains and hospitality customers throughout the Eastern United States. The company produces over 150 million bagels annually. Fleischer’s is headquartered near Rochester in Macedon, NY (www.bakewisebrands.com).
Tom Cat Bakery is a maker of fresh and frozen breads. The company’s breads are sold to white-table-cloth restaurants, luxury hotels and bakery cafes. The company is headquartered in Long Island City, NY (www.tomcatbakery.com).
“We have enjoyed a long relationship with the Bakewise team, and we are extremely proud of the culture established and embraced by the management team and employees,” said Ray Kingsbury, Managing Director at Ancor. “Bakewise Brands today offers a portfolio of 400 products and 65 years of combined bakery experience, and it is a trusted bakery solutions provider offering a variety of branded and private label programs to premier retail and food service operators throughout the United States, Canada and Caribbean.”
Ancor Capital Partners invests in companies with enterprise values of $25 million to $150 million that have EBITDAs from $5 million to $15 million. Sectors of interest include manufacturing, distribution, health care, consumer staples, and outsourcing. The firm is has offices in Southlake, TX and Dallas, TX (www.ancorcapital.com).
Merit Capital Partners invests mezzanine and equity capital of at least $15 million in companies that have minimum revenues of $25 million and EBITDAs of $5 million. Sectors of interest include manufacturing, distribution, logistics and services industries. Merit was founded in 1993 and is based in Chicago (www.meritcapital.com).
Publicly-traded Yamazaki Baking Company (TYO: 2212) is a maker of bread, sweet buns, Japanese-style confectionery, Western-style confectionery, processed bread, prepared rice, side dishes, jams and desserts. The company’s products are sold in many Asian countries including Hong Kong, Malaysia, Taiwan, Singapore, Thailand, and China, as well as in the United States and France. Yamazaki Baking Company was founded in 1948 and is headquartered in Tokyo (www.yamazakipan.co.jp/english).
© 2016 Private Equity Professional • 7-22-16