US-based food and beverage private-equity firm, Arbor Investments, has acquired Golden Malted and Heartland Waffles, suppliers of waffles, pancake mixes, and toppings. The purchase was made from fellow investor Roch Capital, and the price remains undisclosed, as stated by Arbor Investments on 20 June.
Glen Mills, Pennsylvania-based Golden Malted and Heartland Waffles cater to the hospitality and foodservice sectors. They also provide iron equipment and maintenance services to more than 40,000 customer locations throughout North America. As part of the acquisition, Tim Fallon, senior partner at Arbor Investments, will assume the roles of chairman and interim CEO. Existing senior leaders of Golden Malted and Heartland Waffles will retain their operating roles as leaders of the business.
Arbor Investments expressed admiration for the national footprint that Golden Malted and Heartland Waffles have established, particularly in the hotel breakfast sector. Fallon emphasized the significant opportunity to leverage Arbor’s resources and expertise, driving further growth and expansion in the broader foodservice industry.
This acquisition adds to Arbor Investments’ portfolio of active investments, which includes pet-food companies Carnivore Meat Company and Red Collar Pet Foods, frozen bread and baked goods producer Crown Bakeries, and hummus and dips supplier Fontaine Santé.
