Private equity firm Brynwood Partners VIII L.P. has announced the acquisition of De Wafelbakkers from The Oklahoma Publishing Company, a subsidiary of the Anschutz Corporation.
De Wafelbakkers is a manufacturer of branded and private label frozen pancakes, waffles, and French toast that employs around 650 people and has two manufacturing facilities.
Henk Hartong III, chairman, and CEO of Brynwood Partners said: “Brynwood already has a presence in the breakfast category through its dry mix offerings with its Hungry Jack and Arrowhead Mills brands, owned by Brynwood portfolio company Hometown Food Company. We also have extensive experience in the frozen manufacturing space and believe that we can partner with the management team to accelerate performance in the De Wafelbakkers business. The frozen pancake, waffle, and French toast market is a growing space and we are excited to be invested in the category with such a significant manufacturing player”.
Brynwood’s portfolio includes Harvest Hill Beverage Company, Carolina Beverage Group, Hometown Food Company, Buitoni Food Company, and Great Kitchens Food Company, the firm has 16 facilities, employs approximately 4100 people, and has annual sales of over $2.2 billion.
The terms and conditions of the deal have not been disclosed.
Source: Brynwood Partners press release