The Riverside Co. has invested in Tate's Bake Shop Inc., a cookie and baked goods provider.
Southampton, New York-based Tate's makes thin, crisp cookies and all-natural baked snacks. The company also makes cakes, brownies and pies that are sold through grocery and specialty food stores, as well as online. Tate's also makes gluten-free cookies and snacks. Terms of the deal were not disclosed.
Cleveland and New York-based private equity firm Riverside plans to enhance distribution, production and manufacturing.
The buyer has been on a deal streak this year. In August, Riverside invested in craft beer brewery Uinta Brewing Co. Before that, also in August, the firm picked up DMA Corp., which provides analytics services to financial institutions.
Riverside's co-CEOs won Mergers & Acquisitions Mid-Market M&A Dealmakers of the Year award for 2013.
Golub Capital, Crescent Capital and Triangle Capital provided financing for the deal. Jones Day and Deloitte advised Riverside. TM Capital Corp. advised Tate's on the deal.
Consumer interest in all-natural, better-for-you and other snack products has increased over the past few years. For more on the trend, see "Snack Time."