More Food & Beverage Industry News
J. Skinner Baking, a maker of artisanal baked goods including Danishes, muffins, cinnamon rolls, brownies and bars, announced that it has been acquired by Stellex Capital Management (“Stellex”), a private equity firm that invests in mid-market companies in North America and Europe. Financial details of the transaction were not disclosed.
Headquartered in Omaha, Nebraska, J. Skinner offers ready-to-eat baked goods through in-grocery bakeries (ISBs), foodservice providers and co-packing partnerships. Founded in 1983, the company has grown to become one of the largest ISB providers in the United States, selling its products in more than 30,000 retail locations across all 50 states.
The partnership between Stellex and J. Skinner will support investments in expanded production capacity, increased automation and new product development. In addition to financial resources, the company also announced the appointment of decades-long bakery owner Doug Davidson as president and chief operating officer, strengthening operational leadership while adding further depth of expertise in the field.
Winston & Strawn LLP provided legal assistance to Stellex and Abrahams Kaslow & Cassman LLP provided legal assistance to J. Skinner. DA Davidson, Riparian Partners and Burlington Capital acted as financial advisors to J. Skinner. Terms of the transaction were not disclosed.
