M&A Deal Summary

37 Baking Acquires Gold Standard Baking

On June 23, 2022, 37 Baking acquired food company Gold Standard Baking from Parallel49 Equity

Acquisition Highlights
  • This is 37 Baking’s 1st transaction in the Food sector.
  • This is 37 Baking’s 1st transaction in the United States.
  • This is 37 Baking’s 1st transaction in Illinois.

M&A Deal Summary
Date 2022-06-23
Target Gold Standard Baking
Sector Food
Buyer(s) 37 Baking
Sellers(s) Parallel49 Equity
Deal Type Add-on Acquisition

Target

Gold Standard Baking

Chicago, Illinois, United States
website
Gold Standard Baking is a full-service bakery specializing in a variety of laminated dough products including croissants, danishes and other sweet baked goods, which are sold through multiple channels in the food industry. Gold Standard Baking was established in 1987 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

37 Baking

Chicago, Illinois, United States
Category Company
Sector Food
DESCRIPTION

37 Baking is a manufacturer of fully-baked croissants and a leading manufacturer of sweet baked goods. 37 Baking is based in Chicago, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

Parallel49 Equity

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Parallel49 Equity is a private equity firm that invests in mid-sized companies in Canada and the US. The Firm concentrates its investment efforts in the Western and Mid-western regions of both countries. Target businesses generally have enterprise values of $25 to $150 million and are profitable with $5 to $30 million of EBITDA. Parallel49 pursues acquisitions of public or private companies, management-led buyouts, recapitalizations and sales of subsidiaries of larger companies. Broad areas of interest include manufacturing, service, and distribution. Parallel49 will not invest in start-ups, new technologies, turnarounds or companies active in real estate development, gaming, restaurant or primary resource sectors. Parallel49 was formerly known as Tricor Pacific Capital. The Firm has offices in Vancouver, British Columbia, and Chicago, Illinois.

DEAL STATS #
Overall 19 of 21
Sector (Food) 3 of 3
Type (Add-on Acquisition) 8 of 9
State (Illinois) 1 of 2
Country (United States) 8 of 10
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-25 Certified Recycling

Anaheim, California, United States

Certified Recycling is a provider of recycling and waste solutions services. Certified Recycling offers waste reduction services to over 1,000 customers in a variety of industries with our core focus being to provide significant cost savings to our clients while helping them achieve their environmental goals and stay in compliance with local, state, and federal mandates for their waste programs. Certified Recycling was established in 1977 and is based in Anaheim, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-14 MedTorque

Elmhurst, Illinois, United States

MedTorque is a designer, manufacturer, and marketer of customized, highly-engineered component parts and instruments that require the highest levels of tolerance for the medical and industrial OEM’s. MedTorque was established in 2011 and is based in Elmhurst, Illinois.

Sell -
Mergr

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