J. Skinner Baking Partners with Stellex in Expansion-Focused Recapitalization
Doug Davidson joins as president and chief operating officer
IMAGE CREDIT: Nick Roskelly
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J. Skinner Baking, a manufacturer of artisan baked goods including danishes, muffins, cinnamon rolls, brownies, and bars announced that it has been acquired by Stellex Capital Management (“Stellex”), a private equity firm that invests in middle market companies in North America and Europe. The financial details of the transaction have not been disclosed.
Headquartered in Omaha, Neb., J. Skinner provides ready-to-eat baked goods through grocery in-store bakeries (“ISB”), foodservice providers, and co-pack partnerships. Founded in 1983, the company has grown into one of the largest ISB providers in the US, selling its products in over 30,000 retail locations across all 50 states.
Stellex’s partnership with J. Skinner will support investment into production capacity expansion, increased automation, and new product development. In addition to financial resources, the Company also announced the appointment of multi-decade bakery operator, Doug Davidson, as president and chief operating officer further adding to the wealth of category expertise while bolstering operational leadership.
Winston & Strawn LLP provided legal support to Stellex and Abrahams Kaslow & Cassman LLP provided legal support to J. Skinner. DA Davidson, Riparian Partners, and Burlington Capital served as financial advisors to J. Skinner. Terms of the transaction were not disclosed.
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