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US frozen bakery products manufacturer Maple Donuts has been purchased by local private-equity firm Swander Pace Capital.
The deal’s financial terms have not been disclosed.
The transaction, Swander Pace Capital’s 15th in the bakery sector, also saw Partners Capital and Constitution Capital Partners as co-investors.
Founded in 1946 by the Burnside family, Maple Donuts produces private-label doughnuts for retail and foodservice channels customers in the US.
The company offers ready-to-sell and ready-to-finish products.
Maple Donuts executive vice-president of sales Luke Burnside said: “The Burnside family recognised the clear benefits that Swander Pace Capital’s resources and expertise can provide to help Maple Donuts continue its growth trajectory.
“Their deep understanding of the bakery industry, combined with their track record of working with family-owned businesses, makes them the ideal partner for our next chapter.”
Burnside added the company will collaborate with Swander Pace Capital to “further expand” its product offerings and “enhance” production capabilities.
In a joint statement, Damian and Nathaniel Burnside, co-presidents at Maple Donuts, said: “As we transition the business, we are confident that Maple Donuts is in excellent hands for the next chapter with Swander Pace Capital.”
Swander Pace Capital, which invests in “defensive” consumer staples across the food industry, has previously acquired bakery businesses including Boulangerie St. Méthode, Café Valley and Bäckerhaus Veit.
Most recently, Café Valley, another Swander Pace Capital bakery asset, acquired Freed’s Bakery, a manufacturer of iced mini cupcakes for national and regional retailers.
Tyler Matlock, managing director at Swander Pace Capital, said: “We will continue to look for interesting investment opportunities within the bakery category to further establish Maple Donuts as a value-added partner to its customers.”
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