Arbor Investments buys waffle companies Golden Malted and Heartland Waffles

• With the acquisition, Arbor’s Senior Operating Partner Tim Fallon will assume the role of chairman and Interim CEO of the company
• Golden Malted-Heartland’s senior leadership will continue in their operating roles leading the business
• Arbor Investments is focused exclusively on the food, beverage, and related industries

Arbor Investments has acquired Golden Malted and Heartland Waffles companies from Roch Capital. No financial terms were disclosed.

Based in Glen Mills, Pennsylvania, the combined entity will serve as a supplier of waffle irons and waffle mix to the hospitality and foodservice industry.

With the acquisition, Arbor’s Senior Operating Partner Tim Fallon will assume the role of chairman and Interim CEO of the company. Senior leadership of Golden Malted-Heartland will continue in their operating roles leading the business.

“We are incredibly excited to bring Golden Malted-Heartland into the Arbor portfolio. Our specialized approach will enable us to further expand the Company’s distribution, innovate its product offerings, and optimize the supply chain,” said Arbor Vice President George Russell in a statement. “We see a growing appetite for the Company’s signature waffle products across foodservice segments – from hospitality to restaurants to colleges and beyond. We look forward to partnering with the Golden Malted-Heartland team to continue providing their hospitality and foodservice customers with customized waffle programs that elevate their menus, enhance profits, and differentiate the guest experience.”

Kirkland & Ellis served as Arbor’s legal counsel in connection with the transaction. Piper Sandler served as financial advisor and Holland & Knight served as legal counsel to Golden Malted and Heartland Waffles.

Founded in 1999, Arbor Investments is focused exclusively on the food, beverage, and related industries. Arbor is headquartered in Palm Beach, Florida.