US investment firm One Rock Capital Partners has acquired a stake in third-generation baked goods manufacturer Lewis Brothers Bakeries.
The New York-based investor has not disclosed the amount it has invested, nor the size of the stake taken.
Lewis Bakeries, headquartered in Evansville, Indiana, is behind brands including Bunny Bread, Lewis Bake Shop, Butternut and Healthy Life.
Founded in 1925 by three brothers, Lewis Bakeries is the largest wholesale bakery in Indiana, employing approximately 2,000 people across its five bakeries in the state and in Tennessee.
The company’s products are distributed in 17 states, predominantly in the Midwest, where Bunny Bread and Butternut are well-known brands. The business is led by H. Dean Short, president and grandson of founding brother R. Jack Lewis, Sr. He will continue in this role following the investment from One Rock.
One Rock partner Jack Rosenberg said: “Lewis Bakeries has established itself as a leading provider of baked goods that consumers enjoy every day. This is a result of the company’s consistent focus on delivering high-quality products and customer-focused innovation. These priorities convince us that Lewis is well-positioned for further growth in new product categories and geographies.”
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By GlobalData
One Rock principal Jared Kawadler said the investor planned to pursue “accretive acquisitions and partnerships” with the bakery business.
H. Dean Short, said: “As we prepare for the future, we felt that One Rock’s experience investing in the food and beverage manufacturing industry, and its vast team of talented operating partners make the firm the ideal partner for Lewis Bakeries as we pursue a new phase of growth.
“One Rock’s investment is a vote of confidence in our business and the opportunities that lay ahead. The Lewis family remains invested in the Company, and we look forward to working with One Rock to ensure the business will thrive for generations to come.”
Last month, One Rock announced a deal to acquire Paris-based private-label snacks manufacturer Europe Snacks, owner of the Burts Snacks crisps brand, from private-equity firm Apax Partners.
