M&A Deal Summary

Sweetmore Bakeries Acquires Main Street Gourmet

On September 19, 2019, Sweetmore Bakeries acquired food company Main Street Gourmet from Triangle Capital and Greybull Stewardship

Acquisition Highlights
  • This is Sweetmore Bakeries’ 1st transaction in the Food sector.
  • This is Sweetmore Bakeries’ 1st transaction in the United States.
  • This is Sweetmore Bakeries’ 1st transaction in Ohio.

M&A Deal Summary
Date 2019-09-19
Target Main Street Gourmet
Sector Food
Buyer(s) Sweetmore Bakeries
Sellers(s) Triangle Capital
Greybull Stewardship
Deal Type Add-on Acquisition

Target

Main Street Gourmet

Cuyahoga Falls, Ohio, United States
Main Street Gourmet is a wholesale bakery that develops, produces, and sells a broad line of bakery products. Customers include fast-casual restaurants, bakery/cafes, coffee chains, family restaurants, grocery retailers, and broad-line distributors. Main Street Gourmet was founded in 1987 and is based in Cuyahoga Falls, Ohio.

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Buyer(S) 1

Buyer

Sweetmore Bakeries

Park Ridge, Illinois, United States
Category Company
Sector Food
DESCRIPTION

Sweetmore Bakeries operates bakeries including Main Street Gourmet, Biscotti Brothers, and Meurer Brothers – delivering stock and custom bakery products to the retail in-store bakery (“ISB”) and national restaurant channels. Sweetmore focuses on high quality and innovative products to help customers differentiate their sweet baked goods and improve operations. Sweetmore Bakeries is based in Park Ridge, Illinois.

DEAL STATS #
Overall 1 of 2
Sector (Food) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-14 Sweet Eddie’s

Smyrna, Georgia, United States

Sweet Eddie’s is a wholesale bakery producing cinnamon rolls and other yeast-raised sweet goods for top retail chains across the United States. Sweet Eddie’s was formed in 1998 and is based in Atlanta, Georgia.

Buy -

Seller(S) 2

SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 65 of 72
Sector (Food) 5 of 5
Type (Add-on Acquisition) 33 of 34
State (Ohio) 5 of 5
Country (United States) 64 of 71
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-02 Capital Contractors

Melville, New York, United States

Capital Contractors, Inc. is a provider of janitorial and facilities maintenance services in North America. CCI maintains thousands of facilities and has been successfully serving customers for more than 75 years. Capital Contractors was formed in 1932 and is based in Melville, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Custom Windows & Doors

Ocala, Florida, United States

Custom Window Systems, Inc. is a designer and manufacturer of windows, doors, and porch enclosure products in the southeastern United States. CWS offers a full range of aluminum impact-resistant windows and doors, aluminum and vinyl non-impact windows and doors, and porch enclosure products. Custom Window Systems, Inc. was founded in 1986 and is based in Ocala, Florida.

Sell -
SELLER

Greybull Stewardship

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Greybull Stewardship is a private investment firm focused on majority or minority investments in small companies. The Firm targets profitable businesses with $500K to $5 million of pre-tax profits. Greybull does not have any sector preferences and will consider opportunities throughout the US. Greybull Stewardship was formed in 2010 and is based in Cody, Wyoming.

DEAL STATS #
Overall 3 of 8
Sector (Food) 1 of 1
Type (Add-on Acquisition) 3 of 7
State (Ohio) 1 of 1
Country (United States) 3 of 8
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Capstone Event Group

Raleigh, North Carolina, United States

Capstone Event Group owns and operates a growing number of road race events throughout North America. Its largest races are Vancouver’s Sun Run and San Francisco’s Bay to Breakers. Capstone Event Group was founded in 2011 and is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-04 Ada Sand & Gravel

Boise, Idaho, United States

Ada Sand & Gravel is an independent supplier of aggregates (sand & gravel) to utilities, excavation, and construction customers in Treasure Valley/Boise metro area. Ada Sand & Gravel was founded in 1961 and is based in Boise, Idaho.

Buy -
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