Peak Rock Capital is buying Gold Coast Bakeries LLC, a producer of “high quality” organic breads and sweet goods, for an undisclosed amount. This deal marks as the private equity firm’s sixth investment in the food and beverage industry.
Peak Rock CEO Anthony DiSimone says, “We are actively seeking attractive food and consumer platforms to invest in, as well as accretive add-on acquisitions in the bakery space.”
Founded in 1989, Gold Coast makes a variety of fresh and frozen baked goods which includes: breads, buns, rolls and sweet goods. For more than 25 years, the target has served consumer packaged goods companies, grocery retailers and foodservice customers. Gold Coast operates out of its two production facilities in Santa Ana, California and Addison, Illinois. The target lists Kroger Co. (NYSE: KR), Costco Wholesale Corp. (Nasdaq: COST), Safeway Inc. (NYSE: SWY), and Sam's Club as some of its long-term bakery partners.
Peak Rock, based in Austin, Texas, is a lower middle market private equity firm that targets companies covering consumer goods, food and beverage, business and tech-enabled services, energy, healthcare, manufacturing and industrials, metals, and technology. In 2016, Peak Rock acquired Do Outdoors Inc., the owner of fishing product manufacturer Lew’s Fishing; bought Diamond Crystal Brands Inc., a food service company; and purchased dairy-based snacks provider Berner Foods & Beverage in 2015. The firm typically invests between $20 million to $150 million in companies with up to $1 billion in revenue.