Private equity is dominating the BakeMark USA LLC auction, which has hit the second round, two sources said.
BakeMark is expected to sell for north of $500 million, the sources said. Harris Williams is advising on the sale. It’s unclear which firms are vying for BakeMark, but most are buyout shops, the people said.
BakeMark, Pico Rivera, California, is a specialty distribution business, and lots of distribution businesses “are going for big prices,” one of the sources said.
Founded in 1928, BakeMark makes and distributes ingredients and supplies, such as bakery mixes, fillings and icings, as well as glazes, to the food industry through its 25 branches. Brands include Westco, Trigal Dorado and BakeSense.
CSM Bakery Solutions, BakeMark’s parent, said in April that it had opted to put the company up for sale after separating it from its core business. BakeMark operates as a stand-alone headed by CEO Jim Parker.
“In BakeMark we have an experienced leadership team that will do very well under new ownership,” CSM President and CEO Marianne Kirkegaard said in the April statement. “This is the ideal time to make [a sale] happen.”
CSM declined comment. BakeMark and Harris Williams could not be reached for comment.
Action Item: Call BakeMark CEO Jim Parker at +1 562-949-1054
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