CHICAGO — Gold Standard Baking, a maker of frozen laminated dough products, is seeking approvals to expand into a new building in Pleasant Prairie, Wis., according to the Milwaukee Business Journal.
Gold Standard’s products are sold through grocery retailers, food service distributors, quick-serve restaurant chains, commissaries and convenience stores throughout North America. According to the Milwaukee Business Journal, the new facility would not replace Gold Standard’s Chicago-area operations but would start with one production line and about 80 to 90 employees with the possibility to expand to five or six production lines and 300 employees.
|Logan Dawson, director of corporate attraction and expansion for Milwaukee 7|
Logan Dawson, director of corporate attraction and expansion for economic development group Milwaukee 7, told the Milwaukee Business Journal that the project would represent an estimated $42 million capital investment by the company to reach full capacity at the facility.Founded in 1987 as a neighborhood bakery of bread, cakes and sweet goods, Gold Standard was purchased by East Balt, a major Chicago-based bun producer, in the 1990s. In 2002, Yianny and George Caparos acquired the small bakery from East Balt and grew the business into a strong regional bakery. In 2008, Arbor Investments acquired a controlling interest in Gold Standard and embarked upon a growth plan backed by a $40 million investment in equipment and facilities that transformed the company into the largest manufacturer of specialty croissants and strip Danish products in the United States.