US-based private-equity firm Encore Consumer Capital has acquired local frozen desserts and baked-goods business Chalet Desserts.
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Chalet CEO Dave Laukat and the rest of the management team will remain on board, according to a statement from the investor, which did not disclose the financial terms.
“I am excited about the partnership with Encore and the experience they bring to the table,” Laukat said. “With their support, I am looking forward to our next chapter of growth.”
Kate Wallman, managing director of Encore, said Chalet is a “category leader” and the investor will support its growth “through add-on acquisitions, organic growth initiatives and investments in capacity”.
Chalet, based in Sacramento, California, sells its frozen bakery desserts and baked goods into in-store bakeries at supermarkets and convenience stores, as well as supplying foodservice and ingredients end-markets.
Its portfolio includes products such as flavored cake pops, ice cream-based goods, cheesecake and brownie pieces. The business said it is “one of the largest manufacturers of cake pops in the United States”.
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By GlobalDataEncore Consumer Capital is focused on the consumer products industry. The firm said it has raised over $900m in committed capital and invested in over 40 companies in the sector.
Target areas include food and beverage, pet products, personal care and beauty.
Encore invests in companies with between $10m and $150m in annual revenues “where its strong expertise in strategy development, brand marketing, manufacturing and supply chain optimisation, and distribution expansion can drive performance”.
In April this year, Encore offloaded its investment in the New Jersey-based bakery, Banneton to the Belgium-based baker Vandemoortele. Banneton makes croissants and pastry products at its base in Swedesboro.
Last year, Encore sold another baked goods group, MBC Companies, to another local peer, Entrepreneurial Equity Partners.
