Crown Bakeries, a manufacturer of fresh and frozen breads, baked goods and dough products, has acquired a large private brand and co-manufacturing baker in Michel’s Bakery.
Family-owned Michel’s was founded in 1898 and focuses on a range of sweet baked goods for consumer brands and grocers in the private label space. It will continue to operate out of its facility in Philadelphia and Jon Liss will remain overseeing the organization as its general manager.
For Nashville-based Crown Bakeries, terms of the transaction were not disclosed, but the move is meant to strengthen the company’s portfolio of sweet breads.
“We’re thrilled to welcome the Michel’s associates into our Crown Bakeries family. I’ve personally known Jon for decades and greatly respect the Michel’s organization as a leading baker of specialty products for more than a century,” said Yianny Caparos, president of Crown Bakeries. “It’s exciting to partner with businesses who share Crown’s mission and promise to treat customers like royalty, with innovation and high-quality products as a core part of their DNA. The addition of Michel’s associates, and their portfolio of sweet baked products further reinforces our goal to be crowned the best custom baked goods supplier and employer in the industry.”
Crown Bakeries is owned by Arbor Investments, a private equity firm focused on acquiring companies across food and beverage. Last year, Crown completed strategic acquisitions of Steck Wholesale Foods in North Sioux City, S.D. and purchased a laminated and sweet goods plant in Smyrna, Ga. Most recently, Crown completed a 45,000 sq. ft. expansion in Nashville with a new ultra-high speed line producing thaw-and-serve croissants for the retail, in-store bakery and foodservice channels.
“Michel’s products and manufacturing capabilities are highly complementary to the Crown portfolio, and the Philadelphia facility expands Crown’s geographic manufacturing footprint in the northeast,” commented Arbor Partner, Chris Tuffin. “We’re delighted and honored to welcome Jon and his team of passionate and talented bakers, and excited to rapidly grow the Crown platform through organic investment in new equipment and facilities and highly accretive acquisitions like Michel’s.”