Grupo Bimbo S.A.B. de C.V. is purchasing East Balt Bakeries, a food manufacturer of breads, from private equity firm One Equity Partners for $650 million. One Equity is on Mergers & Acquisitions’ 10 Young and Thriving PE Firms Worth Watching list.

East Balt Bakeries began in 1995 as a single bakery in Chicago delivering buns to customers using one delivery truck. Today, the target operates from 21 “high-speed” bakeries across 11 countries producing a variety of fresh buns, including: bagels, biscuits, English muffins, soft and hard rolls, and Hawaiian and ciabatta style breads. East Balt Bakeries serves the foodservice channel, an industry involving businesses responsible for the preparation of meals outside the home. One Equity Partners acquired East Balt Bakeries in December 2012 and has since acquired three businesses through add-on deals.

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