Alantra advises Bagel Boy on sale to Crown Bakeries
SECTORConsumer Goods & Retail; Food & Beverage
Boston – Alantra, the global investment banking and asset management specialist, is pleased to announce the sale of Bagel Boy, Inc. to Crown Bakeries, a portfolio company of Arbor Investments. The transaction closed on June 28, 2021 and the deal value was not disclosed.
Based in Lawrence, Mass., Bagel Boy is a manufacturer of premium New York-style bagels, flat breads, pita breads and pita chips. Bagel Boy’s products are offered under private label brands for leading grocery retailers, including virtually every supermarket chain in New England, as well as national players like Trader Joe’s, Walmart, Whole Foods and Aldi. Founded in 1992, Bagel Boy’s proprietary, highly automated process for manufacturing authentic bagels with superior quality enabled it to gain market share in the highly competitive commercial bakery segment. Bagel Boy now produces over one million bagels per day and is one of the largest commercial bagel operations in the U.S.
Crown Bakeries is a leading manufacturer of fresh and frozen breads, baked goods and dough products. Crown is owned by Arbor Investments, a private equity firm that focuses exclusively on acquiring premier companies in food, beverage, and related industries. The highly strategic acquisition of Bagel Boy will expand Crown Bakeries’ range of breakfast products, which includes croissants, biscuits, English muffins, and brioche, and will also create significant customer synergies. Bagel Boy will continue to operate out of its existing manufacturing facility and Founder, Chuck Bouchrouche, will remain with the company as General Manager.
“Crown’s reputation, industry expertise, resources and approach made them the right choice to partner with as we enter our next growth phase,” said Mr. Bouchrouche. “By joining the Crown family, we can leverage the combined scale of our businesses and offer a more comprehensive portfolio of high-quality baked goods to our deeply valued customers.”
The transaction represents another highly successful outcome for Alantra’s global food team in the commercial bakery sector. The mandate was led by Jeff Robards (Managing Director and head of Alantra’s U.S. food practice) and Greg Fanikos (Director).
“Helping owners and founders like Chuck, to achieve a great outcome with transactions like this, is the most rewarding aspect of being an investment banker,” said Mr. Robards. “Our global food team has an outstanding track record and transaction credentials, and we will continue to work with companies like Bagel Boy and other bakery sector leaders to realize their strategic objectives through M&A.”
“The Bagel Boy story is the essence of the American Dream—an entrepreneur-run business that grew from a two-person operation into one of the leading commercial bakeries in the country,” said Mr. Fanikos. “We are delighted that we could help Chuck in securing the future success of the business with a high-quality, growth-oriented partner like Crown Bakeries.”
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