US-based Crown Bakeries has acquired local peer Bagel Boy for an undisclosed sum.
Nashville-headquartered Crown, a manufacturer of fresh and frozen breads, baked goods and dough products, said its purchase of East Coast-based bagel and English muffin manufacturer Bagel Boy will see it become a “one-stop-shop baker”.
Founded in 1992, Bagel Boy is said to be the largest manufacturer of New York-style bagels in New England. It supplies grocery retailers and consumer brands.
Post-deal Bagel Boy will continue to operate out of its existing manufacturing facility in Lawrence, Massachusetts. Founder Chuck Bouchrouche will remain at the helm of the organisation as its general manager.
Yianny Caparos, president of Crown Bakeries, said: “Breakfast is the fastest-growing daypart in the United States and bagel sales are growing nearly three-times as fast as the broader baked goods category.
“By adding Bagel Boy’s outstanding products to our existing portfolio, including croissants, biscuits, and English muffins, as well as our extensive sweet goods capabilities, we further enhance Crown’s position as the preferred one-stop-shop baker in the industry.”
Baker Boy’s Bouchrouche said: “Crown’s reputation, industry expertise, resources and approach made them the right choice to partner with as we enter our next growth phase. By joining the Crown family, we can leverage the combined scale of our businesses and offer a more comprehensive portfolio of high-quality baked goods to our deeply valued customers.”
Crown Bakeries is owned by private-equity firm Arbor Investments. It announced the recapitalisation of Crown Bakeries (formerly The Bakery Companies) with founder and CEO Cordia Harrington in October 2019 and has made “significant investments” to grow the business both organically and through acquisitions.
Chris Tuffin, a partner at Arbor, said: “The Bagel Boy transaction marks the fourth add-on to the Crown portfolio in the last 15 months, giving the organisation over 1,000 employees, serving customers across all channels – in retail, as a co-manufacturing partner for brands, as well as in foodservice.”
Earlier this month, Crown Bakeries announced the acquisition of US sweet baked-goods firm Michel’s Bakery.
In April last year, the business bought Steck Wholesale Foods, a manufacturer of muffins and biscuits.