D.A. Davidson Advises J. Skinner Baking in Its Sale to Stellex Capital Management
June 25 2024 - 11:41AM
Business Wire
D.A. Davidson & Co. announced today that it served as
financial advisor to The James Skinner Baking Company (“J. Skinner”
or the "Company”), in connection with its sale to Stellex Capital
Management (“Stellex”), a private equity firm with more than $2.6
billion in committed capital under management that invests in
middle-market companies in North America and Europe. Headquartered
in Omaha, Nebraska, J. Skinner provides ready-to-eat baked goods
through grocery in-store bakeries (“ISB”), foodservice providers
and co-pack partnerships.
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D.A. Davidson & Co. announced today
that it served as financial advisor to The James Skinner Baking
Company (“J. Skinner” or the "Company”), in connection with its
sale to Stellex Capital Management (“Stellex”), a private equity
firm with more than $2.6 billion in committed capital under
management that invests in middle-market companies in North America
and Europe. (Graphic: Business Wire)
Since its founding in 1983, J. Skinner has grown into one the
largest ISB providers in the U.S., selling its products through
over 30,000 locations in all 50 states. J. Skinner has built a
reputation for producing best-in-class, artisan baked sweet goods
including danishes, muffins, cinnamon rolls, brownies and bars.
Stellex’s partnership with the Company will support additional
investment into production capacity expansion, increased automation
and new product development.
“I’m thrilled to partner with Stellex on the next chapter in J.
Skinner’s growth,” said Audie Keaton, CEO of J. Skinner. “D.A.
Davidson was an essential partner in helping advise J. Skinner
through this transformational partnership. Their deep understanding
of our business, valuable advice and tenacity throughout the
process were critical to a successful outcome for the
business.”
“J. Skinner is one of the preeminent ISB platforms in the
country and we’re delighted and appreciative to have had the
opportunity to work with Audie and the rest of the J. Skinner team
on this transaction,” said Danny Friedman, Managing Director at
D.A. Davidson. “We’re excited to see what J. Skinner is able to
accomplish with the added expertise and resources that Stellex will
bring to the business.”
“J. Skinner and Audie Keaton have been pillars of the Nebraska
business community,” said John Decker, Managing Director and Head
of Business Advisory Services at D.A. Davidson. “This transaction
represents another successful outcome for a Nebraska-based client
and demonstrates our commitment to serving companies throughout the
state.”
D.A. Davidson’s Consumer Investment Banking Group has an
established reputation advising preeminent brands through
leveraging its deep industry knowledge, broad range of capabilities
and unparalleled commitment from its senior professionals, who lead
each client engagement. The Consumer Group has extensive experience
serving middle-market companies across a broad spectrum of consumer
segments such as food & beverage, consumer products, ecommerce
and marketplaces, consumer & business services, and outdoor
& active lifestyle. Our team's continued leadership in mergers
and acquisitions and capital formation, complemented by a veteran
debt advisory practice, allows D.A. Davidson’s Consumer team to
provide comprehensive debt and equity solutions to clients across a
variety of specialized subsectors within each of its core
segments.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services
firm offering a range of financial services and advice to
individuals, corporations, institutions, and municipalities
nationwide. Founded in 1935 with corporate headquarters in Great
Falls, Montana, and regional headquarters in Denver, Los Angeles,
New York, Omaha and Seattle, the company has approximately 1,600
employees and offices in 29 states.
Subsidiaries include: D.A. Davidson & Co., a full-service
investment firm providing wealth management, investment banking,
equity and fixed income capital markets services, and advice;
Davidson Investment Advisors, a professional asset management firm;
and D.A. Davidson Trust Company, a trust and wealth management
company.
For more information, visit dadavidson.com.
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Deal Team Contacts Dan Friedman, Managing Director | Irvine |
jschim@dadco.com John Decker, Head of Business Advisory Services
& ECM Liaison | Lincoln | jldecker@dadco.com William Prioleau,
Vice President | Irvine | wprioleau@dadco.com
Media Contact Emily Roy Prosek for D.A. Davidson (646)
818-9232 eroy@prosek.com