New England Capital Partners (NECP) has sold Superior Cake Products, Inc. (Superior) to Hostess Brands, LLC. Financial details have not been disclosed.
Founded in 1908, Superior markets its products on a branded and private label basis in the high visibility, high margin in-store bakery departments of regional and national grocery chains, club stores and superstores. Superior has established itself as the preferred supplier in the growing in-store bakery category through its institutional baking mastery, focused product strategy, commitment to quality and successful marketing of its brand.
Founded in 1919, Hostess Brands is a preeminent manufacturer of branded snacks owned by Apollo Global Management and Metropoulos & Co. The company has a portfolio of iconic sweet baked goods brands including Twinkies, Ding Dongs, Zingers, Donettes and Ho Hos. "Superior on Main is an in-store bakery company that makes wonderful éclairs, brownie bites, magdalenes, black and white cookies, very high-quality products that sell into club and grocery and other in-store bakery outlets," said William D. Toler, Chief Executive Officer of Hostess Brands. "We’re going to use that as part of our strategy to move into that part of the store."
NECP is a private investment firm focused on acquiring lower middle-market operating companies.
One of Oaklins' teams in the USA served as financial advisor to the seller in this transaction. Our team assisted Superior and NECP in attracting a strategic partner that shares management’s vision and offers the resources necessary to capitalize on the company’s numerous growth opportunities.
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