Eurazeo has completed a $25 million minority investment in Dewey’s Bakery, a North Carolina-based cookie and cracker manufacturer.
The company’s Eurazeo Brands division is investing alongside chairman and majority-owner, Scott Livengood, and incoming CEO Mike Senackerib.
Founded in 1930, Dewey’s Bakery makes products including soft-baked cookies, crisp cookie thins and savoury crackers.
The company manufactures custom-branded products for US retailers and is also an emerging national brand in natural, specialty and grocery channels. In addition, Dewey’s operates several retail bakeries in the Winston-Salem area of North Carolina.
Following its investment, Eurazeo Brands will work with Dewey’s to boost the bakery company’s marketing activities and manufacturing capabilities, with the aim of driving growth across both the branded product and private label businesses.
“Dewey’s could not be more excited to partner with Eurazeo Brands and Mike Senackerib on this new chapter of growth for our company,” said Scott Livengood, chairman of Dewey’s Bakery.
“Dewey’s has established a strong presence in both specialty food retailers and supermarkets across the country driven by our amazing products, capabilities and team.
“With access to Eurazeo’s deep resources and know-how, paired with Mike’s proven leadership working on some of the most iconic brands in F&B, we aim to become a leader in our category in the years ahead.”
Senackerib, who joins Dewey’s Bakery as part of Eurazeo’s investment, is described as a ‘seasoned food and beverage executive’ with over 30 years of experience across a wide array of brands.
“I am thrilled to join Dewey’s and work alongside Scott Livengood and Eurazeo Brands on the company’s exciting journey,” said Mike Senackerib, newly appointed Dewey’s Bakery CEO.
“I see tremendous opportunity for Dewey’s to break through as a stand-out brand rooted in a rich and authentic history.”
Senackerib has previously held roles at Kraft Foods, Campbell Soup Company and Nabisco (now part of Mondelēz), where he served as senior VP and general manager of Nabisco’s portfolio of cookie and cracker brands, including Oreo and Ritz. Most recently, Senackerib was co-founder of start-up Farm & Oven Snacks.
Jim Goldman, senior advisor to Eurazeo, and George Birman, principal at Eurazeo Brands, will join Dewey’s board of directors.
© FoodBev Media Ltd 2020