Lindsay Goldberg, a private investment firm that focuses on partnering with families, founders, and management teams, has agreed to acquire Aryzta North America, a B2B provider of frozen baked goods in the U.S. and Canada, from Aryzta AG.

“ANA is one of the leading suppliers of high-quality baked goods in the U.S. and Canada, and we look forward to partnering with management to continue ANA’s tradition of serving millions of consumers,” said Russell Triedman, managing partner of Lindsay Goldberg.

Tyson Yu, CEO of ANA, added, “Lindsay Goldberg is renowned for its collaborative approach in partnering with management teams to build great businesses. The firm’s extensive industry experience, network of relationships, and broad operational expertise position us to maintain the highest standards for food safety and sustainability and accelerate our innovation and future growth trajectory.”

Houlihan Lokey and Alantra acted as financial advisors to Aryzta AG.