MIAMI,
May 15,
2024 /PRNewswire/ -- Kaho Partners, LLC ("Kaho"), a
thesis-driven investment firm focused on building market-leading
companies through organic and acquisition-driven growth, is pleased
to announce the sale of Kenny's Great Pies, LLC ("Kenny's" or the
"Company") to Dessert Holdings, a portfolio company of Bain
Capital.
Based in Smyrna,
GA, Kenny's is a premier manufacturer of high quality, clean
label, cream-based pies and pie fillings. The Company sells
millions of branded and private label pies through grocery, club
store, and foodservice channels. Kenny's signature product is its
Key lime pie, which is made with 100% pure, freshly squeezed,
authentic Key limes.
Kaho acquired Kenny's from the Company's founder,
Kenny Burts, in 2020 and partnered
with the existing management team to significantly scale the
business. Kaho led major investments in capacity and automation,
implemented rigorous data tracking, instilled a culture of
excellence and continuous improvement, and significantly expanded
the sales organization. During Kaho's hold, the Company tripled
revenue and quadrupled EBITDA.
Griffin Horter,
Chairman of Kenny's and Co-Founder of Kaho, stated, "We are very
fortunate to have partnered with Gary
Muter and the entire Kenny's team. Together, we dramatically
grew the Company and significantly professionalized its operations,
all while improving product quality, on time delivery, and safety.
We thank the Kenny's team for their hard work and dedication to
continuous improvement, which resulted in a fantastic outcome for
everyone involved. We look forward to watching Kenny's continue to
thrive in its new partnership with Dessert Holdings."
Gary Muter, Chief
Executive Officer of Kenny's, added, "Kenny's achieved great things
during our partnership with Kaho Partners. We transformed the
business by implementing a continuous improvement mindset rooted in
the principles of Kaizen, instilling a culture of rigorous
metric-based management, and professionalizing our operations - all
of which paved the way for remarkable growth. As we embark on our
next chapter, we are excited and confident that our partnership
with Dessert Holdings will propel the company to even greater
heights."
Terms of the transaction were not disclosed. Kaho
was represented in the transaction by Integris Partners as
exclusive financial advisor and Holland & Knight, PLLC as legal
counsel.
FOR FURTHER INFORMATION PLEASE CONTACT:
Griffin Horter
(griffin@kahopartners.com)
About Kaho Partners: Kaho is a thesis-driven
investment firm focused on building market-leading companies
through organic and acquisition-driven growth. For more information
on Kaho Partners, please visit www.kahopartners.com.
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SOURCE Kaho Partners