CIC Partners (“CIC”), a Dallas-based middle-market private equity firm, is pleased to announce an agreement to sell CraftMark Bakery (“CraftMark” or the “Company”), a supplier of bakery products for quick service restaurants and in-store retail bakeries, to One Equity Partners.
Founded in Indianapolis, CraftMark Bakery was launched as a ground-up project in 2013 to support the needs of a leading QSR brand. CIC partnered with CIC Operating Partner and serial entrepreneur, Bennie Bray along with bakery industry innovators, Ahmad Hamade and Jim Zakian, to build a new platform in the commercial bakery space.
In 2015, CraftMark completed the construction of a 225,000 sq ft facility with three automated production lines for key bakery products for Subway, one of the world’s largest restaurant brands, and subsequently added a fourth production line in 2016. In 2018, CraftMark expanded its facility by approximately 120,000 sq ft and built three additional highly automated production lines to meet the demand of its growing customer base.
Amir Yoffe, Partner of CIC Partners, said, “Our partnership with the CraftMark founders is representative of our unique partnership model with founder-led businesses and industry leaders. We strive to be the partner of choice for executives and entrepreneurs seeking a strategic capital partner to execute on their vision and achieve their goals.”
In 2022, a new leadership team, led by Kurt Seagrist, was recruited to continue to grow the business through expanding partnerships with new customers. CraftMark has become the leading supplier of frozen bakery products to the food service and in-store bakery industries operating out of a modern, industry-leading, highly automated bakery with seven production lines and over 500 million pounds of production capacity and employing over 400 bakers.
CIC’s capital strategy is anchored in investing the personal capital of its investment team, operating partners and management teams into industries with prior operating and investment expertise. This flexibility and long-term mindset was critical to balance consistent investment in expansion and growth despite a challenging and quickly changing macro environment.
“We’re not constrained by the traditional PE model of short-term hold and exits,” Mr. Yoffe said. “We focus on building companies for the long-term, with a focus on doing the right thing for its customers, employees and shareholders. Together, we were able to achieve our vision for CraftMark in building the businesses into the most advanced commercial bakery in North America.”
The transaction is expected to be completed in Q2 2025, subject to customary closing conditions. Financial terms of the private transaction were not disclosed. Harris Williams served as financial advisor to CraftMark Bakery.
ABOUT CRAFTMARK BAKERY
CraftMark Bakery manufactures delicious sweet and savory snacks for the Foodservice and In-Store Bakery markets in its 345,000 square foot State of the Art facility. Product capabilities include thaw and sell cookies in various sizes and packaging configurations, pre-deposited muffin batter, frozen pre-portioned cookie dough, ready to eat flatbreads, as well as proof and bake bread dough. We are the private label commercial bakery experts in frozen dough and batters, and our passion is unmatched. www.craftmarkbakery.com
ABOUT CIC PARTNERS
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in owner-operator led companies across sectors with particular focus on the food, consumer, and industrial industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage its collective experience of its team, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private equity investing for its investors and management teams for over 30 years. For additional information, please visit www.cicpartners.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250325731513/en/
Contacts
Media Contact:
Amir Yoffe
Email: ayoffe@cicpartners.com
Phone: (214) 871-6812
