US investment firm One Rock Capital Partners has made a strategic move by acquiring a stake in the third-generation baked goods manufacturer Lewis Brothers Bakeries. This acquisition aligns with emerging trends in the food and beverage industry as investors increasingly seek out promising opportunities within the food and drink business.
While One Rock has not disclosed the investment amount or stake size, this partnership is noteworthy. Lewis Bakeries, based in Evansville, Indiana, is known for its innovative products and popular brands such as Bunny Bread, Lewis Bake Shop, Butternut, and Healthy Life.
Founded in 1925 by three brothers, Lewis Bakeries stands as Indiana’s largest wholesale bakery, employing approximately 2,000 individuals across five locations in Indiana and Tennessee. The company’s products reach consumers in 17 states, primarily in the Midwest, where brands like Bunny Bread and Butternut are household names. This significant market presence positions Lewis Bakeries favorably amid current food and drink consumer trends.
H. Dean Short, president of Lewis Bakeries and grandson of founding brother R. Jack Lewis, Sr., will continue to lead the company post-investment. Commenting on the acquisition, One Rock partner Jack Rosenberg emphasized, “Lewis Bakeries has established itself as a leading provider of baked goods that consumers enjoy every day. This is a result of the company’s consistent focus on delivering high-quality products and customer-focused innovation. These priorities convince us that Lewis is well-positioned for further growth in new product categories and geographies.”
One Rock’s principal, Jared Kawadler, mentioned the firm’s focus on pursuing “accretive acquisitions and partnerships” with Lewis Bakeries. Such strategies are crucial for expanding market reach and enhancing operational capabilities in line with industry trends.
H. Dean Short expressed optimism about this partnership. He stated, “As we prepare for the future, we felt that One Rock’s experience investing in the food and beverage manufacturing industry, and its vast team of talented operating partners make the firm the ideal partner for Lewis Bakeries as we pursue a new phase of growth. One Rock’s investment is a vote of confidence in our business and the opportunities that lay ahead. The Lewis family remains invested in the Company, and we look forward to working with One Rock to ensure the business will thrive for generations to come.”
In addition to this agreement, last month, One Rock announced a deal to acquire Paris-based private-label snacks manufacturer Europe Snacks, which owns the Burts Snacks brand. This acquisition further underscores One Rock’s commitment to identifying attractive opportunities in the evolving landscape of the food and beverage sector.
