37 Baking Holdings, a company backed by significant North American family offices, has purchased Gold Standard Baking, a manufacturer of dough-based baked goods.
Gold Standard has sold its business to ensure long-term stability and continuation of its business operations.
“To navigate the changing economic climate, we have developed a plan that will unburden Gold Standard’s business of excessive debt and sell its assets to a new owner who will build on and continue our longstanding success,” said Haq Chaudary, CEO of Gold Standard Baking. “We look forward to executing this negotiated strategy swiftly and continuing our business in its next chapter.”
Houlihan Lokey is serving as investment banker, Riveron as financial advisor, and Klehr Harrison Harvey Branzburg LLP as legal advisor to Gold Standard. Bernstein Shur is serving as legal advisor to 37 Baking.