Brynwood Partners VIII L.P. announced that it has acquired De Wafelbakkers from its current owners, The Oklahoma Publishing Company, a subsidiary of the Anschutz Corporation. Terms and conditions of the deal are not being disclosed.
De Wafelbakkers is a manufacturer of branded, co-manufactured and private label frozen pancakes, waffles and French toast in the US. The company's great-tasting products are sold to grocery and mass retailers, as well as into foodservice outlets nationally. De Wafelbakkers is headquartered in North Little Rock, Ark., where it operates a 100,000sq-ft manufacturing facility. The company also manufactures products from its 98,000 sq. ft. facility in McDonough, Ga. De Wafelbakkers employs approximately 650 people across its two plants and satellite headquarters.
The De Wafelbakkers acquisition increases Brynwood's footprint in the food and beverage space. Their portfolio includes Harvest Hill Beverage company, Carolina Beverage Group, Hometown Food Company, Buitoni Food Company and Great Kitchens Food Company. De Wafelbakkers increases the total Brynwood manufacturing platform to 16 facilities, approximately 4,100 employees and more than $2.2 billion in annual sales.
Brynwood VIII was represented by Holland & Knight on legal matters and did not have investment banking representation. William Blair served as the exclusive advisor to De Wafelbakkers.