San Francisco-based private equity firm Gryphon Investors has agreed to acquire Texas dessert maker Lawler Foods for an undisclosed sum.
Lawler, a family-owned business, manufactures gourmet cheesecakes, layer cakes, pies and other desserts for retail and foodservice customers across North America.
Under the terms of the deal, which is expected to close by the end of this month, Lawler will become part of the same premium dessert platform as The Original Cakerie – a leading manufacturer of high-quality frozen desserts for retail and foodservice customers across North America that Gryphon acquired in December 2015.
Gryphon said the Lawler family will retain “a significant investment in the company” and the Lawler Foods management team will remain in place under the new ownership. Sales VP Wes Stasny will be promoted to president as part of the transition.
Partner at Gryphon Keith Stimson said: “The acquisition represents an outstanding strategic fit for Gryphon’s premium dessert platform. Lawler Foods’ long-term focus on producing best-in-class quality products is consistent with The Original Cakerie’s own commitment to quality. With little overlap in product offerings and customers between the two businesses, we are confident that the two companies will help expand our customer relationships with leading North American retailers and foodservice accounts.”
Operating partner Dennis O’Brien said: “With both Lawler Foods and The Original Cakerie as cornerstones, we look forward to building the dominant premium dessert manufacturer for the retail and foodservice industry across North America.”
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