ST. PAUL, MINN. — Bain Capital Private Equity has entered an agreement to acquire Dessert Holdings from Gryphon Investors. Desserts Holdings is a premium dessert company offering products under three brands: The Original Cakerie, Lawler’s Desserts and Atlanta Cheesecake Co.
Financial terms of the transaction were not disclosed.
The Original Cakerie, founded in 1979, is a manufacturer of desserts with locations in Vancouver, BC, and London, Ont. Lawler’s Desserts, founded in 1976, is a manufacturer of gourmet cheesecakes, layer cakes, pies and other premium desserts based in Humble, Texas. Atlanta Cheesecake Co., founded in 1988, is a manufacturer of premium cheesecakes and fusion desserts based in Kennesaw, Ga. Together, the brands serve more than 250 customers in the United States, Canada, Mexico, the Caribbean, South America and Asia.
“We are focused on building the leading premium dessert company in North America by bringing innovative, chef-inspired dessert products to our retail and foodservice customers,” said Paul Lapadat, chief executive officer of Dessert Holdings. “Bain Capital Private Equity’s investment and business-building expertise is coming at just the right time in our evolution, and they share our vision and ambition to accelerate our growth as the innovation leader in premium, artisanal desserts. We want to thank Gryphon Investors for its support over the last five years and look forward to partnering with our new owners to expand our organization and support the next stage of growth.”
Adam Nebesar, a managing director at Bain Capital, said the private equity firm is looking forward to supporting Dessert Holdings at it develops new products, pursues organic growth and acquisition opportunities, and further strengthens its value proposition to existing and new customers.
“Paul and his team have done an exceptional job in building Dessert Holdings as the leading premium desserts platform in a category that continues to grow as consumers increasingly choose to treat themselves to desserts with high-quality, clean label ingredients,” Mr. Nebesar said.
Bain Capital Private Equity has a long history of partnering with companies to accelerate growth, including in the consumer, retail and restaurant industries. The firm’s restaurant, foodservice and grocery-related investments have included Advantage Solutions, Bloomin’ Brands, Burger King, Dunkin’ Brands Group, and Domino’s Pizza.