Stellex Capital Management, a private-equity firm, has acquired family-owned US bakery company J. Skinner Baking. The financial terms of the deal were not disclosed. This acquisition will support the expansion of production capacity, automation, and new product development at J. Skinner.
Furthermore, the company has appointed Doug Davidson, a seasoned bakery operator, as its new president and chief operating officer. Founded in 1983 and headquartered in Omaha, J. Skinner produces artisan baked goods such as danishes, muffins, cinnamon rolls, and brownies. With over 800 employees, the company supplies foodservice providers and in-store bakery sections in grocery stores.
J. Skinner is known as one of the largest in-store bakery providers in the US, serving products in over 30,000 retail locations nationwide. Audie Keaton, the CEO of J. Skinner, expressed enthusiasm about the partnership with Stellex, stating that it will enhance operations, drive growth, promote sustainability, and create value for employees, the Omaha community, and customers.
Based in New York with offices in Detroit, Pittsburgh, and London, Stellex manages assets worth over $2.8 million. The firm focuses on sectors such as aerospace, defense, government services, transportation, logistics, manufacturing, and food processing.
In related US bakery news, private-equity-backed Rise Baking Company recently acquired Table Talk Pies. This transaction provides Rise Baking access to three additional manufacturing facilities, bringing its total to 20 across the US and Canada. In another acquisition, Canada-based Commercial Bakeries purchased US better-for-you baked goods maker Imagine Baking in May. The latter specializes in gluten-free and organic crackers, cookies, biscuits, and brittle.
The food and beverage industry continues to witness consolidation and strategic acquisitions as companies seek to strengthen their market positions and drive growth in response to evolving consumer trends. These developments highlight the dynamic nature of the food and drink business landscape.
