Bain Capital Private Equity has agreed to acquire Dessert Holdings, a North American premium dessert company, from its owner of five years Gryphon Investors.
The deal – which was made for an undisclosed sum – will enable Dessert Holdings to accelerate its growth and expansion.
Based in Minnesota, Dessert Holdings manufactures a range of desserts including cheesecakes, layer cakes and pies under three brands: The Original Cakerie, Lawler’s Desserts and Atlanta Cheesecake Company. Together, the brands serve more than 250 retail and foodservice customers in the US, Canada, Mexico, the Caribbean, South America and Asia.
Upon completion, Dessert Holdings will continue to operate under its current management team led by CEO Paul Lapadat.
“We are focused on building the leading premium dessert company in North America by bringing innovative, chef inspired dessert products to our retail and foodservice customers,” said Lapadat.
“Bain Capital Private Equity’s investment and business-building expertise is coming at just the right time in our evolution, and they share our vision and ambition to accelerate our growth as the innovation leader in premium, artisanal desserts.”
Adam Nebesar, a managing director at Bain Capital Private Equity, added: “Paul and his team have done an exceptional job in building Dessert Holdings as the leading premium desserts platform in a category that continues to grow as consumers increasingly choose to treat themselves to desserts with high quality, clean label ingredients.
“We are thrilled to partner with this experienced team and look forward to supporting Dessert Holdings as it develops new and innovative products, pursues organic growth and acquisition opportunities, and further strengthens its value proposition to existing and new customers.”
The transaction is expected to be completed during the second quarter of 2021, subject to customary closing conditions.
Bain Capital Private Equity’s restaurant, foodservice and grocery investments have included Brakes Group, Dunkin’ Brands, Domino’s Pizza and Burger King.
© FoodBev Media Ltd 2020
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