DENVER , May 17, 2024
/PRNewswire/ -- SDR Ventures is pleased to announce
that Imagine Baking, Inc. ("Imagine Baking" or "the Company")
has been acquired by Commercial Bakeries Corp., a portfolio company
of Graham Partners ("Graham"). SDR served as the
exclusive sell-side advisor to Imagine Baking throughout
the transaction process.
Imagine Baking is a manufacturer of specialty, premium, and
better-for-you crackers, cookies, biscuits, brittles, and chips,
focusing on the gluten-free, organic, and better-for-you space.
Headquartered in Sandusky, Ohio,
Imagine Baking operates a 114,000+ square foot facility that
includes segregated manufacturing lines, multiple packaging
capabilities, and a sizeable R&D laboratory, which will help to
unlock additional opportunities for the combined businesses.
Adrienne and John O'Donnell,
Owners & Founders of Imagine Baking, commented, "We are
grateful to Logan and the SDR team for relentlessly advocating on
our behalf throughout the process. Their strategic vision and
dedication was integral in aligning the path to shared success for
our new partnership. This will be a win-win for both our companies,
as we look forward to adding our innovation focus to the strong
product offerings at Commercial Bakeries. Together we will create
destination shopping for both brands and private label needs."
Imaging Baking has formulated and launched successful national
brands for decades. The Company continues to add creativity to the
contract baking arena as their experienced team members develop and
produce private label products for leading retailers. Committed to
shaking up the marketplace and providing next-generation baking,
the team is energized by making top-quality, trend-forward
products.
With Commercial Bakeries headquartered in Toronto, Canada, the acquisition of Imagine
Baking expands their capabilities within the fast-growing North
American private label cookie and cracker market. "We are delighted
to welcome John and Adrienne
O'Donnell and their Imagine Baking team into the expanded
business," said Shawn Warren, CEO of
Commercial Bakeries. "We are confident that together we will
accelerate towards our promise of 'Baking Up Better' every day and
in every way."
"The shared vision and complementary strengths that Imagine
Baking and Commercial Bakeries bring to the table is apparent.
Together they are poised to unlock greater opportunities than they
could achieve individually. I'm excited for their future,"
concluded Scott Mitchell, Managing
Director at SDR Ventures.
Vice President Logan Bohlender
concluded, "It was a pleasure working with John and Adrienne. Their
infectious enthusiasm for revolutionizing the better-for-you food
industry was truly inspiring. It was a privilege to be part of
their journey and help their vision come to light."
About Commercial Bakeries
Headquartered in
Toronto, Canada, Commercial
Bakeries is a producer of private label packaged cookies with a
focus on specialty / premium, better-for-you, and seasonal /
limited time offering ("LTO") products. Commercial Bakeries
primarily serves the retail and co-manufacturing channels,
partnering with many retail grocery chains and brands in
North America.
About Imagine Baking
Imagine Baking is a manufacturer
of upscale crackers, cookies, biscuits, and brittle. Imagine Baking
has a strong track record of partnering with its brands to develop,
optimize and commercialize innovative, trend-forward specialty
baked products.
About Graham Partners
Graham Partners is a
private investment firm focused on investing in technology-driven
companies that are spurring innovation in advanced manufacturing,
resulting in product substitutions, raw materials conversions, and
disruptions to traditional end markets. Based in suburban
Philadelphia, the firm has access
to extensive operating resources and industrial expertise and is a
member of The Graham Group, an alliance of independent operating
businesses, investment firms, and philanthropic entities, which all
share in the common legacy of entrepreneur Donald Graham.
Media Contact
Rebecca Kemp
rkemp@sdrventures.com
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SOURCE SDR Ventures