CraftMark Bakery, a key player in the food manufacturing industry based in the U.S., is poised for a change in ownership. One Equity Partners (OEP) has announced plans to acquire the company from CIC Partners.
While financial details of the transaction remain undisclosed, the acquisition marks a significant move in the foodservice sector.
Established in Indianapolis in 2013, CraftMark Bakery serves the quick-service restaurant (QSR) industry, according to statements by CIC Partners.
The company specializes in wholesale production of various baked goods, including bread dough, cookie dough, and muffins.
CraftMark caters to in-store bakeries, foodservice providers, and convenience stores, additionally offering contract manufacturing services.
OEP partner Joseph Huffsmith emphasized that the investment in CraftMark “presents an opportunity to participate in the attractive foodservice and in-store bakery segments, each with considerable growth potential.”
Notably, OEP has a robust history in the food manufacturing sector. The firm previously sold East Balt Bakeries, now recognized as Bimbo QSR, to the Mexican bakery giant Grupo Bimbo for $650 million in 2017.
According to CraftMark Bakery CEO Kurt Seagrist, OEP’s “proven expertise” in the expanding specialty baked goods market makes them an “ideal partner” for CraftMark as it aims to “expand through organic growth and acquisitions.”
Currently, CraftMark operates seven production lines with a cumulative capacity exceeding 250,000 tons, supported by a workforce of over 400 employees.
In 2015, CraftMark inaugurated a state-of-the-art facility spanning 225,000 square feet, which features three automated production lines that primarily supply fast-food giant Subway.
By 2016, a fourth production line had been added, and further expansion took place by 2018, when the facility grew by approximately 120,000 square feet with the addition of three more automated production lines to meet increased demand.
OEP vice president Haley Citrome stated, “We look forward to working with the company’s management team to support and grow its blue-chip customer base and expand service offerings through strategic M&A and continued investment into the base operations.”
This transaction is poised for completion in the second quarter of 2025, pending customary closing conditions.
