Superior Cake Products Inc / Hostess Brands LLC
New England Capital Partners (NECP) has sold Superior Cake Products, Inc. (Superior) to Hostess Brands, LLC. Financial details have not been disclosed.
Founded in 1908, Superior markets its products on a branded and private label basis in the high visibility, high margin in-store bakery departments of regional and national grocery chains, club stores and superstores. Superior has established itself as the preferred supplier in the growing in-store bakery category through its institutional baking mastery, focused product strategy, commitment to quality and successful marketing of its brand.
Founded in 1919, Hostess Brands is a preeminent manufacturer of branded snacks owned by Apollo Global Management and Metropoulos & Co. The company has a portfolio of iconic sweet baked goods brands including Twinkies, Ding Dongs, Zingers, Donettes and Ho Hos. “Superior on Main is an in-store bakery company that makes wonderful éclairs, brownie bites, magdalenes, black and white cookies, very high-quality products that sell into club and grocery and other in-store bakery outlets,” said William D. Toler, Chief Executive Officer of Hostess Brands. “We’re going to use that as part of our strategy to move into that part of the store.”
NECP is a private investment firm focused on acquiring lower middle-market operating companies.
TM Capital Corp., one of M&A International Inc.’s US members, served as financial advisor to the seller in this transaction. TM Capital assisted Superior and NECP in attracting a strategic partner that shares management’s vision and offers the resources necessary to capitalize on the company’s numerous growth opportunities.
“I would like to thank all of those involved in the process that has concluded with us ultimately choosing Neighborly as our partner going forward, those at finnCap Cavendish and our CFO Mike Bergin, without whom this would have not happened.”
Thank you to the Cavendish team for your unwavering support throughout this process. Finding a strategic overseas partner to allow me to realise my global ambition was my number one aim, and this has been achieved. In the current market the result you have delivered is exceptional.
It was a great pleasure to work with the Cavendish team again having originally worked with them when we sold Naked Wines to Majestic Wine in 2015. John, Rebecca and the team rigorously assessed the market to find the right new owner for a business with dedicated staff and suppliers and the right deal to achieve Naked’s goal of realising capital and simplifying the business.
“Jonathan, thank you to you and your team for your tremendous support and wise counsel during the process. You kept a calm head throughout and successfully charted a course to bring us to this great conclusion. David, the team and I are all delighted with the outcome as we now join forces with Cafento to build the brand to even greater heights. I would highly recommend your services!”
“The team at Cavendish went far beyond what was expected, supporting us through the entire fundraising process. I am certain that the deal with Piper would never have completed in the time frame without their help.”
Jonathan, thank you for all your help, sound advice and hard work over the last year. You very skilfully guided us through a challenging process. As well as a fantastic exit for some very happy shareholders, there is no doubt in my mind that Orlebar Brown has ended up in the right place. Your patience was rewarded!
“Cavendish worked hard and achieved an excellent result for stakeholders. I would certainly recommend their services.”
“The Cavendish team did an excellent job and provided expert advice throughout the transaction and most importantly ensured the deal crossed the line. I am pleased that Jollyes has passed into experienced hands and I truly believe the business has an exciting future ahead.”
“Thank you guys, brilliant work!! Thanks to your advice, the company was well prepared and it all came together very quickly at the end, excellently handled by you and your team. A cracking result for all the OKA shareholders!”
“I’d like to thank Jonathan Buxton and his team for doing a great job in selling Cotswold Collections to Rockpool and completing the deal announced today.
We all appreciate the hard work that was put in by each member of the team to make the deal happen and help us through all the tricky parts of the negotiation, whilst it was very frustrating at times we got there in the end! Well done!”
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