Arbor Investments, a Chicago-based private equity firm that focuses on the food and beverage industry, said on Tuesday that it has acquired The New French Bakery. No financial terms were disclosed. Headquartered in Minneapolis, The New French Bakery is a producer and distributor of fresh artisan breads.
CHICAGO, IL – June 25, 2013
Arbor Investments, based in Chicago, Illinois, announced today that it has completed the acquisition of The New French Bakery, Inc. (“New French Bakery” or the “Company”). New French Bakery, headquartered in Minneapolis, bakes and markets a comprehensive offering of premium branded and private label take-and-bake, par-baked and fresh artisan breads. The Company’s products are widely recognized for their superior quality and taste. Arbor partnered with management, led by the Company’s VP of Sales, Jeff Getzkin, and Michael Schultz, a long-term baking industry veteran, in its acquisition of New French Bakery. Mr. Schultz previously held senior management positions with Best Brands Corporation, a wholly owned subsidiary of CSM Bakery Products. Terms of the sale were withheld.
New French Bakery has an outstanding reputation as a market leader in product taste, quality and service. Founded by Peter Kelsey in 1995, the Company is one of the finest producers and marketers of premium quality take-and-bake, par-baked and fresh artisan breads sold into the in-store-bakery and foodservice channels across the United States. Over the past 18 years, the Company has built its reputation on superior product quality, dedication to traditional baking practices and unparalleled customer service. New French Bakery’s products are manufactured using only top-quality ingredients which enables the Company to bake artisan breads similar to those found in small “old-world” European bakeries. The Company will continue to operate out of its existing facilities.
“We were drawn to New French Bakery due to the Company’s superior quality products and reputation in the baking industry,” said Brody Lynn of Arbor Investments. “The Company has thrived under the ownership of Peter Kelsey, who was recently named Minnesota’s Small Business Person of the Year, and we are thrilled to be acquiring a business as it enters its next phase of growth.”
“Arbor’s extensive experience in the food industry made them a perfect partner for New French Bakery, our management team, employees and customers.” said Peter Kelsey. “I’m very proud of what we have accomplished at New French, and look forward to Arbor, with its resources and capital, building upon the foundation we have laid over the last 18 years.”
“We are very excited about our investment in New French Bakery,” said Gregory Purcell of Arbor Investments. “We believe that now more than ever consumers want authentic, high-quality baked goods in their neighborhood grocers’ in-store-bakery. New French Bakery’s customer loyalty is driven by this premise, as the consumer can taste the Company’s differentiating product quality versus the competition.”
Founded in 1999 and headquartered in Chicago, Illinois, Arbor Investments is a specialized private equity firm that focuses exclusively on acquiring premier companies in the food and beverage industry. The firm has acquired or invested in over 30 food and beverage companies in North America and currently has $600 million of assets under management across three funds.
Winston & Strawn LLP served as Arbor’s legal counsel and Leonard, Street and Deinard, P.A. served as counsel to New French Bakery.