US bakery-to-yogurt business Hudson River Foods has bought bakery firm Dancing Deer for an undisclosed sum.

Dancing Deer’s previous owner was investment group Ironwood Capital, which achieves an exit through this deal.

Incorporated in April 1994 to provide “high-quality baked goods” to accompany the growing market for gourmet coffee, Boston-based Dancing Deer has grown from a small commercial bakery to become a manufacturer of speciality cakes and cookies and an online purveyor of gourmet gift packages for businesses and individuals.

It sells its products through grocery, direct-to-consumer, re-seller and corporate channels.

Alex Levental, managing director of Connecticut-based Ironwood Capital, said: “Dancing Deer can claim an amazing list of industry awards over the past two decades.

“Not only do they create delicious products, but they are known for their innovative business practices and community involvement as well. The company is a great fit with Hudson River Foods.”

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Ironwood Capital provides non-control growth capital to middle market companies, investing more than US$750m in over 130 companies over the past 17 years.