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04/05/2021

Private label frozen pancake maker finds new owner

De Wafelbakkers, a leader in private label frozen pancakes, waffles and French toast, has been acquired by the equity firm behind Hungry Jack and Arrowhead Mills.
Dan Ochwat
Executive Editor
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De Wafelbakkers, a leading supplier of store brand frozen pancakes, waffles and French toast, has a new owner.

Brynwood Partners, Greenwich, Conn., has acquired De Wafelbakkers from its current owners Oklahoma Publishing, a subsidiary of Anschutz Corp. De Wafelbakkers operates a 100,000 sq. ft. manufacturing facility in North Little Rock, Ark., where it’s headquartered, and also operates a facility in McDonough, Ga. The company employs 650 people, producing private brand, co-manufactured and branded products.

The acquisition bolsters Brynwood’s footprint in food and beverage, but particularly in breakfast, given that the company owns the Hungry Jack and Arrowhead Mills brands. 

“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,” said Henk Hartong III, chairman and CEO, Brynwood Partners. “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 also owns Harvest Hill Beverage, Carolina Beverage Group, Hometown Food, Buitoni Food and Great Kitchens Food. With the acquisition of De Wafelbakkers, the firm increases the total Brynwood manufacturing platform to 16 facilities, approximately 4,100 employees and more than $2.2 billion in annual sales.