Alantra advises Encore Consumer Capital and Fantasy Baking Co. on the sale of Fantasy Baking to Sweetmore Bakeries

Aug 2026

Sell-side advisory

Boston & New York – Alantra has acted as sole strategic and financial advisor to Encore Consumer Capital (“Encore”) and Fantasy Baking Co. (“Fantasy”) on the sale of Fantasy to Sweetmore Bakeries (“Sweetmore”), a portfolio company of Shore Capital Partners. Terms of the transaction were not disclosed.

Founded in 1979 and headquartered in Sylmar, California, Fantasy is a specialty bakery manufacturer serving private label retailers and branded food companies across the United States. The company produces a broad range of cookies, fruit-filled bars, protein and breakfast bars, and other baked goods, with differentiated capabilities across organic, high-protein, non-GMO, gluten-free, and Kosher products. Fantasy’s in-house R&D and formulation expertise have supported its evolution from a specialty cookie manufacturer into a scaled co-manufacturing platform serving a diverse customer base.

The acquisition establishes Sweetmore’s first West Coast manufacturing presence and extends its footprint nationwide. Fantasy becomes Sweetmore’s sixth facility, adding complementary product capabilities, R&D expertise, and manufacturing capacity while strengthening the combined group’s position across the cookie and baked bar categories. The combination also creates opportunities to leverage the companies’ complementary customer relationships and better serve customers across the retail in-store bakery and foodservice channels.

Alantra supported Encore and Fantasy throughout the transaction, leveraging its deep bakery sector expertise, buyer relationships, and transaction execution capabilities to position the business and identify the right partner for its next phase of growth.

Russ Case, CEO of Fantasy Baking, said: “The Alantra team was terrific to work with. I appreciated their thoughtful and proactive strategy which – along with a steady hand, organized approach, and relentless commitment to moving the process forward – kept us on course and enabled us to achieve this milestone transaction.”

Josh Garver, Managing Director at Alantra, said: “We are thrilled to have helped the Fantasy Baking team find the right strategic partner for the business going forward. Fantasy has been building tremendous momentum, and we are excited to see what additional opportunities can be realized in combination with Sweetmore.”

Jeff Robards, Managing Director at Alantra, added: “This transaction further reflects Alantra’s deep bakery sector knowledge and deal execution expertise, which we are pleased to have brought to bear in supporting Encore and Fantasy in achieving a successful transaction outcome.”

This transaction further reinforces Alantra’s strong track record and continued momentum in the bakery and broader food & beverage sector. Recent mandates include advising Anthony & Sons Bakery on its sale to Brioche Pasquier, Maple Donuts on its sale to Swander Pace Capital, MidOcean Partners and QualiTech on the acquisition of Ellison Bakery, and Vandemoortele on the acquisition of Banneton Bakery.