Alantra advised on the sale of Jacqueline’s Gourmet Cookies to Rich Products Corporation
SECTORFood & Beverage
Alantra is pleased to announce that Jacqueline’s Wholesale Bakery, Inc., d/b/a Jacqueline’s Gourmet Cookies (Jacqueline’s), a leading manufacturer of frozen cookie dough for the in-store bakery and foodservice channels, has been sold to Rich Product Corporation (Rich’s). The transaction closed on April 4, 2017.
Based in Salem, MA, Jacqueline’s offers frozen, pre-portioned dough for gourmet cookies, scones and snack bars to a national blue-chip customer base that includes leading grocers, mass-merchants and restaurant chains. Jacqueline’s has a reputation as a value-added solution provider that collaborates with its customers to offer differentiated products, to expand the cookie and sweet goods category, and to grow sales of higher margin, on trend products.
Based in Buffalo, NY for over 70 years, Rich’s is a family-owned supplier of cakes, desserts, non-dairy toppings, pizza, bakery products and other foods to in-store bakery, foodservice and retail stores. Rich’s offers 4,000+ products worldwide selling to customers in more than 100 countries. Mark Hazel, Jacqueline’s current President and CEO, will become President of the newly combined frozen cookie dough business.
“Our consumer foods focus and transaction experience, coupled with our extensive network of bakery sector relationships, enabled us to employ a highly-effective process for identifying the right partner to ensure a successful future for the business,” said Jeff Robards, Managing Director with Alantra. “We are very pleased to have worked with Marc Hazel and the Jacqueline’s team on achieving a great outcome for the company and its owners.”
“The combination of Jacqueline’s with Rich’s results in the leading national platform for frozen cookie dough,” said Josh Garver, Director with Alantra. “Jacqueline’s has created an outstanding foundation for the business, and Rich’s size and resources should enable the combined operation to continue its robust growth trajectory going forward.”