Canada-based baked goods group Furlani Foods has another private-equity owner.
Arbor Investments has snapped up the business from fellow US private-equity group Entrepreneurial Equity Partners for an undisclosed sum.
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In a statement yesterday (9 February), Greg Purcell, the co-founder and CEO of Arbor Investments, said: “Our philosophy is to invest in taste and value and Furlani hits the mark on both.
“Add in our team’s deep expertise in baking, and I’m confident we can accelerate growth and win new customers and channels.”
Founded almost three decades ago, Furlani operates bakery sites in Wisconsin and Iowa and the US, as well as in Mississauga in Ontario.
Its product range includes garlic Texas toast, loaves, rolls, breadsticks and bread knots.
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By GlobalDataFurlani supplies frozen garlic bread to retailers operating in the US including Walmart and Aldi. It also sells to foodservice customers across North America.
The business markets its products to consumers under the Furlani and Cole’s brands, with Cole’s added to the portfolio following an acquisition in 2024. It also manufactures private-label products.
Entrepreneurial Equity Partners invested in Furlani Foods in 2023 alongside the Kawaja family.
Entrepreneurial Equity Partners partner Ryan Schweet added: “Furlani has built a longstanding reputation for producing premium specialty garlic breads and we are excited to see the Company continue its next phase of growth.”
John Jordan, Arbor Investments’ president, said Furlani’s “next phase of expansion” will require “continued investment in growth capex and compelling innovation to meet the needs of their customers”.
Furlani CEO Jonathan Kawaja will remain in his role, with the senior leadership team continuing to run the company.
Arbor said it has invested in 19 baking businesses and has maintained a baking platform in each of its funds, including Golden Waffles, Crown Bakeries and Rise Baking.
“Throughout the process, it became clear Arbor would be an excellent fit for Furlani. Arbor’s know-how and resources in the baking industry, combined with a shared vision positions us well to continue serving our customers and consumers at the highest level,” Kawaja added.
