The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

US bakery business Klosterman Baking Company has been acquired by an affiliate of private equity investment firm, New Water Capital Partners II. Founded in 1892, Klosterman is a producer of fresh and frozen breads, buns, flatbreads, donuts and other bakery products. The company operates 17 bakeries and distribution facilities across the eight Midwest states. The acquisition will expand New Water's presence in the manufactured foods sector. New Water vice president, Nick LaRosa, said: "Through our partnership with management, Klosterman will look to expand the company's product portfolio and geographic distribution footprint to better serve our growing customer base through a combination of organic and inorganic growth levers". Klosterman president, Ross Anderson, added: "New Water's capital investment and management experience in the food sector will give Klosterman the tools it needs to scale to meet existing customer demand and to optimise its market position nationally. New Water brings leadership and strategic expertise we will be able to utilise to better systemise operations, enhance our distribution channels and position ourselves for further growth." The terms of the deal have not been disclosed.