Stonebridge Partners is pleased to announce the successful acquisition of the former operations of Bake One, Inc., (“Bake One”) by Specialty Bakers, LLC (“Specialty Bakers”), a Stonebridge portfolio company since September 2010. Specialty Bakers and Stonebridge identified key equipment and related assets of Bake One as an attractive platform to expand Specialty Bakers’ product lines after a fire destroyed its pie production plant in 2018, resulting in the loss of approximately 70% of its revenues. Specialty Bakers cake plant in Marysville, PA remained after the fire and continues to be the primary producer of Ladyfingers in the United States as well as a leading provider of other high-quality branded and private label baked products for “in store bakery” section of supermarkets. These products include French Twirls™, Dessert Shells, Cake Rolls, and Angel Food Cakes.
For more than 20 years, the Smyrna, GA based Bake One has been a leading regional and national player with a reputation for making high-quality, on-trend products. Bake One’s 130,000 square foot production facility has automated equipment designed for high production volumes ensuring consistent quality control for large club stores and food service companies. Bake One focuses on products with small portion sizes which are well-suited to today’s consumer preferences and include mini cinnamon rolls, mini Danish, croissants, brownie bites, tea cakes, and mini muffins. Recent investments by Stonebridge provide equipment capable of producing complimentary products for “in-store” supermarket bakeries which will be sold by the Specialty Bakers sales staff.
Founded in 1901, Specialty Bakers’ (http://www.specialtybakers.com) has extensive retail placement which span superstores, independent grocers, convenience stores and the premier national and regional supermarket chains from coast-to-coast. The Company’s roster of 200+ customers is highly diverse and creates strong buyer relationships for selling Bake One products nationwide.
Debt financing to acquire the former assets of Bake One was provided by Siena Lending Group, LLC.