Grand Rapids / MG. (ski) The James Skinner LLC , a premier manufacturer of artisan baked goods including danishes, muffins, cinnamon rolls and so on, announced that it has been acquired by Stellex Capital Management LLC, a P.E. firm that invests in middle market companies in North America and Europe.
Headquartered in Omaha (Nebraska), the brand «J. Skinner» provides ready-to-eat baked goods through grocery in-store bakeries (ISB), foodservice providers, and co-pack partnerships. Founded in 1983, the Company has grown into one of the largest ISB providers in the U.S., selling its products in over 30,000 retail locations across all 50 U.S. states.
Stellex’s partnership with J. Skinner will support investment into production capacity expansion, increased automation, and new product development. In addition to financial resources, the Company also announced the appointment of multi-decade bakery operator, Doug Davidson, as President and COO further adding to the wealth of category expertise while bolstering operational leadership.
«Stellex has supported the business with significant incremental day-one capital and liquidity to enable the company’s aggressive expansion plans,» said Audie Keaton, CEO of J. Skinner. «This new partnership will seek to strengthen our existing operations, support the Company’s long-term growth agenda, drive sustainability, and bring value to our employees, the community, and our nationwide customer base.»
«With a long history of driving value for its strategic retail partners, J. Skinner is now equipped for its next stage of product and capability expansion,” added Trey Lee, Managing Director at Stellex. “We are thrilled to welcome Doug to the team and invest behind this inflection point with our capital and strategic resources as the Company moves further to meet customers at their critical points of need.»
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center