Ellison Bakery sold to new investors
Ellison Bakery, a supplier of cookies, snack bars and other products for foodservice and retail, with a strong business in private brand cookies, has been sold to a new private investment firm focused on the food supply chain.
Chicago-based Tilia Holdings bought the company from Blackford Capital, Grand Rapids, Mich. Blackford announced its initial investment in the industrial bakery in April 2017. The bakery was founded by Donald Ellis in 1945.
The Ellis family, Promus Equity Partners, Concentric Equity Partners, and Baird Principal Group partnered in the deal, with senior debt funding provided by Comerica.
Ellison Bakery, Fort Wayne, Ind., has a rich history of baking private label soft cookies for retail customers across the United States, according to the company.
"Ellison Bakery will represent Blackford's fifth successful exit amongst a total of 15 platform companies," said Martin Stein, founder and managing director of Blackford. "We are very pleased with the outcome of this investment, which yielded strong financial results for the business and our limited partners. We are confident in the shared vision for the bakery going forward and look forward to seeing their future success, as we continue our commitment to supporting unique, alternative investments through both long-term and new relationships, even amid this new economic environment."