SAN FRANCISCO — Murry’s Inc., a portfolio company of San Francisco-based private equity firm Encore Consumer Capital, has acquired Bake Crafters Food Co. Financial terms of the transaction were not disclosed.
Founded in 1989 and headquartered in McDonald, Tenn., Bake Crafters manufactures and distributes breakfast and other baked food products, primarily to the K-12 foodservice channel. The company’s products include pancake and waffle breakfast sandwiches, low-sodium bread, break bars and french toast bites. According to the company, more than 420 million servings of its whole grain products were used in schools during the 2020-21 school year.
Murry’s, which was acquired by Encore in 2019, is based in Greenbelt, Md. The company makes frozen french toast sticks and bites that are sold into the private label retail and foodservice channels.
Jeff Ahlers recently was brought on board as chief executive officer of Murry’s. Prior to joining Murry’s in June, he was CEO of La Tortilla Factory in Santa Rosa, Calif. He also spent six years as president of ISB/Cottage Bakery at Ralcorp Holdings, and earlier he was chief operating officer of Cottage Bakery. He spent many years as senior vice president of perishables at Safeway.
“I am pleased to bring Jeff on board to support the integration of Bake Crafters and the continued growth of Murry’s,” said Ira Mendelson, chairman of Encore. “Bake Crafters has been an important partner of Murry’s for over 15 years and I’m excited to see what we can accomplish working together.”
Kate Wallman, managing director of Encore Consumer Capital, added, “Bake Crafters represents a highly strategic acquisition for Murry’s. We’re excited to have completed this transaction and look forward to the next chapter of growth at Murry’s under Jeff’s leadership.”Encore Consumer Capital has raised more than $600 million in equity capital and invested in over 35 companies in the consumer products sector. The private equity firm’s current and prior investments include food and beverage manufacturers and marketers (4505 Meats, Aidells Sausage Co., Ancient Harvest, Brownie Brittle, Full Sail Brewing, Lion Beverages, Mesa Foods, Murry’s, Navitas Organics, Tender Belly, Thanasi Foods, Van Law Foods), pet products companies (Open Farm Pet, ThunderWorks, Zuke’s) and personal care/beauty companies (Love Wellness, MyChelle Dermaceuticals, Supergoop!, tarte), and food distribution companies (Freshko Produce Services, Pint Size Hawaii, Tourtellot). The firm targets companies with between $10 million and $100 million in annual revenues.