PE-backed Indulge Desserts buys L&Q

Indulge Desserts Holdings LLC, which is backed by AUA Private Equity Partners LLC, has acquired Love & Quiches, a maker of gourmet desserts and quiches for national restaurant chains, food service distributors, groceries and stores. No financial terms were disclosed.

PRESS RELEASE

New York, NY – January 17, 2017 – Indulge Desserts Holdings, LLC (“Indulge Desserts”), a portfolio company of AUA Private Equity Partners, LLC (“AUA Equity”) is pleased to announce its acquisition of the assets of Love & Quiches (“L&Q”), a manufacturer of gourmet desserts and quiches serving national restaurant chains, foodservice distributors, and grocery / mass / club stores.

Andy Unanue, Managing Partner of AUA Private Equity said, “We are pleased with the addition of the Love & Quiches brand to our portfolio, as the meaningful synergistic opportunities identified upfront made the investment very attractive to our growing desserts platform.”

L&Q is a family-owned business specializing in “classic American desserts” such as brownies, carrot cake, NY Cheesecake, chocolate cake, and red velvet cake sold through a diverse set of traditional (e.g. restaurants, foodservice, retail) and alternative (airlines, military, cruise ships, international) channels. Key investments highlights included the limited customer overlap, cross-selling opportunities, and combined R&D capabilities.

Steven Flyer, Partner of AUA Private Equity commented, “We are excited to acquire the assets of Love & Quiches as this transaction will allow us to continue to expand Indulge Desserts’ diverse portfolio of products as well as add new distribution channels to our existing customer base. We continue to seek other dessert manufacturing assets as we realize on our vision to grow Indulge Desserts into a leading premium dessert manufacturer.”

The AUA Private Equity deal team was led by Partner Steven Flyer, Principal Kyce Chihi, Senior Associate Jack Lin and Associate Te’Rhon O’Neal. Legal advice was provided by McDermott Will & Emery and accounting due diligence was provided by CohnReznick.

About Love & Quiches
Established in 1976 in Freeport, NY, Love & Quiches, is a manufacturer of gourmet desserts and quiches that serves national restaurant chains, foodservice distributors and grocery / mass / club stores. Love & Quiches’ diverse channels include both traditional (restaurants, foodservice, retail) and alternative (airlines, military, cruise ships, international). L&Q specializes in “classic American desserts” such as brownies, carrot cake, NY Cheesecake, chocolate cake, red velvet cake and others.

About Indulge Desserts
Indulge Desserts Holdings, LLC, is a manufacturer of premium gourmet desserts, offering a full line of American and international/ethnic, all-natural products to the foodservice and retail markets across the U.S. Indulge’s portfolio of products includes cakes, cheesecakes, mini desserts, mousses and international-inspired desserts as well as Kosher, gluten-free and sugar-free items.

About AUA Equity
AUA Private Equity Partners, LLC is a New York-based, operationally-focused, lower middle-market investment firm providing strategic capital to companies in the consumer, media, or business services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the U.S. Hispanic population. AUA Private Equity makes equity investments of $15 to $75 million in companies that generate in excess of $5 million in EBITDA. AUA Private Equity currently manages over $275 million* of capital. For more information on AUA Private Equity, please visit www.auaequity.com.