M&A Deal Summary

Tribute Baking Company Acquires Hometown Foods USA

On December 13, 2021, Tribute Baking Company acquired food company Hometown Foods USA from Keystone Capital

Acquisition Highlights
  • This is Tribute Baking Company’s 1st transaction in the Food sector.
  • This is Tribute Baking Company’s 1st transaction in the United States.
  • This is Tribute Baking Company’s 1st transaction in Florida.

M&A Deal Summary

Date 2021-12-13
Target Hometown Foods USA
Sector Food
Buyer(s) Tribute Baking Company
Sellers(s) Keystone Capital
Deal Type Add-on Acquisition

Target

Hometown Foods USA

Medley, Florida, United States
Hometown Foods USA is a manufacturer of bagels and cake products sold to in-store bakeries, club stores, and the foodservice channel. Hometown Foods USA product offering includes traditional Mrs. W’s Wonderlicious bundt cakes, New York-style bagels, indulgent crème cakes, crumb bundt cakes, and loaf cakes.

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Buyer(S) 1

Buyer

Tribute Baking Company

Bohemia, New York, United States

Category Company
Founded 2021
Sector Food
DESCRIPTION

Tribute Baking Company is a manufacturer of authentic New York style kettle-boiled and hearth-baked bagels, as well as cakes and brownies. Tribute's products are sold into the in-store bakery, club store, foodservice, and convenience store channels. Tribute Baking Company was founded in 2021 and is based in Bohemia, New York.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1

Seller(S) 1

SELLER

Keystone Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Keystone Capital is a private equity firm focused on acquiring family businesses, corporate divestitures, industry consolidations, and special situations. Keystone prefers lower middle-market, US-based businesses with EBITDA of $5 to $20 million. Target sectors include specialty manufacturing, business services/outsourcing, food processing and ingredients, publishing, instrumentation, optical components, and healthcare products/services. Keystone will not invest in start-ups, turnarounds, commodities, defense/government contractors, retail stores, or restaurants. Keystone Capital was formed in 1994 and is based in Chicago, Illinois.


DEAL STATS #
Overall 21 of 26
Sector: Food M&A 3 of 4
Type: Add-on Acquisition M&A Deals 11 of 15
State: Florida M&A 2 of 2
Country: United States M&A 21 of 26
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 Tribute Baking Company

Bohemia, New York, United States

Tribute Baking Company is a manufacturer of authentic New York style kettle-boiled and hearth-baked bagels, as well as cakes and brownies. Tribute's products are sold into the in-store bakery, club store, foodservice, and convenience store channels. Tribute Baking Company was founded in 2021 and is based in Bohemia, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Integra Testing Services

Mentor, Ohio, United States

Integra Testing Services is a national provider of testing, adjusting and balancing (TAB) services to the commercial HVAC market. In addition, Integra also provides other niche inspection and testing services including commissioning, water balancing, and building façade pressure testing. Integra Testing Services is based in Mentor, Ohio.

Buy -