Global Bakeries - on the acquisition trail

Global Bakeries - on the acquisition trail

Global Bakeries, the US business backed by investor Surge Private Equity, has acquired California-based The Better Baking Co.

Better Baking, which was bought from Ash Aghasi, makes cookies and bread, including pitas, and adds to the deal for Bubbles Baking conducted by privately-owned Global Bakeries in March. All three operations are within ten miles of each other in Van Nuys, California. 

The Firmament Group, which along with Dallas-based Surge Private Equity invested in Global Bakeries last December, also provided financing for the deal, according to a statement. Financial terms for the transaction have not been disclosed.

Aghasi will also now become chief operating officer for Global Bakeries.

Chris Botticella, the chief executive of Global Bakeries, said: "We are excited to partner with Ash, as Better has established itself as a manufacturer of premium bakery products in the regional LA market. Add to that the synergies in our operational geography, it became a no-brainer to acquire such a parallel company."

Global Bakeries, located in Pacoima, California, produces non-GMO bread products, pita bread, pita chips, bagels and croissants for the retail and foodservice channel. Better Baking supplies grocery chains across the US from its assortment of more than 300 SKUs.

Lewis Sharp, a partner at Surge Private Equity, added: "This acquisition greatly expands our product line, allows Global to reach new customers, and enables us to offer our existing customers higher quality service. Ash brings over 25 years of operational experience and has proven his knack for creating quality products. We are thrilled about this partnership."