Canada-based baked goods company Furlani Foods has a new private-equity owner. Arbor Investments has acquired the business from US-based Entrepreneurial Equity Partners for an undisclosed amount.
In a statement released on February 9, Greg Purcell, co-founder and CEO of Arbor Investments, expressed confidence in the acquisition. He stated, “Our philosophy is to invest in taste and value, and Furlani hits the mark on both. Add in our team’s deep expertise in baking, and I’m confident we can accelerate growth and win new customers and channels.”
Furlani Foods has been a player in the food and beverage industry for almost three decades, operating bakery sites in Wisconsin and Iowa as well as in Mississauga, Ontario. Its product lineup includes popular items such as garlic Texas toast, loaves, rolls, breadsticks, and bread knots. The company supplies frozen garlic bread to major retailers in the US, including Walmart and Aldi, and services foodservice clients across North America.
The business markets its products under the Furlani and Cole’s brands, the latter being added to its portfolio following a 2024 acquisition. Additionally, Furlani manufactures private-label goods. Entrepreneurial Equity Partners previously invested in Furlani Foods in 2023 along with the Kawaja family.
Ryan Schweet, a partner at Entrepreneurial Equity Partners, noted, “Furlani has built a longstanding reputation for producing premium specialty garlic breads, and we are excited to see the Company continue its next phase of growth.” Similarly, John Jordan, President of Arbor Investments, remarked that Furlani’s future expansion will necessitate “continued investment in growth capex and compelling innovation to meet the needs of their customers.”
Furlani’s CEO Jonathan Kawaja will continue to lead the company, supported by the senior leadership team. Arbor Investments has a solid history in the baking business, having invested in 19 baking companies and maintaining a baking platform in each of its funds, which include Golden Waffles, Crown Bakeries, and Rise Baking.
Kawaja added, “Throughout the process, it became clear Arbor would be an excellent fit for Furlani. Arbor’s know-how and resources in the baking industry, combined with a shared vision, positions us well to continue serving our customers and consumers at the highest level.”
In summary, the acquisition comes at a time of evolving food and drink consumer trends, and it highlights the ongoing dynamism within the food and drink business. As Furlani Foods embarks on this new chapter, it aims to leverage Arbor’s investment expertise to drive innovation and growth, ensuring responsiveness to the latest food and beverage industry trends.
