WEST PALM BEACH, FLA. — AUA Private Equity Partners, LLC has completed the recapitalization of Atlanta-based Epi Breads, a baker of custom bread for the foodservice and retail industries. Financial terms of the transaction were not disclosed.
Following the recapitalization, AUA said it has formed Epic Baking Co., which will seek to invest in artisan bakeries that manufacture, distribute and/or market baking products supplying foodservice or retail customers.
Founded in 1985 in Atlanta, Epi Breads bakes and distributes a wide range of artisan-crafted bread products, including hoagies, rolls and buns, for leading foodservice chains and grocery retailers. The company has plants in Atlanta and Muskegon, Mich., and earlier this year announced plans to relocate its headquarters to a 176,000-square-foot facility in Gwinnett County, Ga.
“We are excited to partner with Epi Breads to help accelerate the company’s future growth,” said Steven Flyer, partner at AUA Private Equity. “Epi Breads has a long history of supplying leading customers in the foodservice and retail channels. We look forward to working with existing customers and utilizing our network of relationships to provide outstanding customer service, R&D capabilities, implement best-in-class productivity and offer the highest quality products.”
As part of the recapitalization, AUA Private Equity said it will work closely with existing management led by Cheryl Barre, chief executive officer, and Nic Mulliez, co-founder, to continue providing strong customer service and superior-quality bread to its longstanding customers.
“AUA Private Equity shares our vision for strengthening a customer-first mentality,” Mr. Mulliez said. “AUA and the Epic Baking Co. board of directors will provide Epi with the expertise and tools it needs to succeed. We look forward to partnering with the AUA team on Epi’s next phase of growth and development.”
Kyce Chihi, managing director of AUA Private Equity, added: “AUA will bring a number of resources to Epi Breads, including capital and operational expertise to bolster Epi’s capabilities, starting with a new 135,000-square-foot manufacturing facility in Atlanta slated to begin production later this fall. Through AUA and Epi’s new partnership, the company will continue to provide strong customer service through superior product quality and consistency, enhanced product innovation, and a sound balance sheet.”
Epi Breads marks AUA Private Equity’s first acquisition on behalf of its new baking platform, Epic Baking Co. AUA Private Equity Partners is an operationally focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and consumer services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the US Hispanic population. AUA Private Equity makes equity investments of $20 million to $75 million in companies that generate in excess of $5 million in EBITDA.