Kohlberg & Company Acquires DecoPac from Snow Phipps Group, LLC
- Wall Street ends up on jobs data, debt default averted
- U.S. economy adds 339,000 jobs in May
- Lululemon Athletica (LULU) up 15% after a beat-and-raise quarter; Analysts bulled-up
- Analysts lift Broadcom (AVGO) numbers after earnings; BofA says AI portfolio 'underappreciated'
- Telecom stocks tumble on report Amazon is in talks to offer mobile service to US Prime subs
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
ANOKA, Minn.--(BUSINESS WIRE)-- DecoPac, Inc. (“DecoPac”), the world’s largest supplier of cake decorations and related products to professional cake decorators and bakeries, announced today that it has been acquired by Kohlberg & Company, L.L.C. (“Kohlberg”), a private equity firm headquartered in Mount Kisco, NY, from Snow Phipps Group, LLC (“Snow Phipps”).
Headquartered in Anoka, Minnesota, DecoPac supplies cake-decorating ingredients and products to in-store bakeries in supermarkets around the world. Its products are used to create decorated cakes for celebrations like birthday parties and graduations. DecoPac offers a variety of edible and non-edible products, including sprinkles, fondant, pastry bags, and various inedible figurines. DecoPac also provides proprietary tech-enabled platforms like PhotoCake, which allows bakeries to print edible, customizable images onto baked goods, and Cakes.com, which allows consumers to personalize and order baked goods online. With approximately 650 employees, DecoPac operates three facilities that offer state-of-the-art warehousing, manufacturing and logistics capabilities – located in Anoka, MN; Fife, WA; and Ashington, England.
“We are very grateful for Snow Phipps’ support and guidance over the last three and a half years, as the business has flourished. The transition from the successful ownership of the founding McGlynn family to Snow Phipps was a complete success and positioned DecoPac for ongoing growth and value-creation. Our future is very bright with Kohlberg,” said Cindy Mahoney, CEO of DecoPac. Mahoney added, “Kohlberg is committed to investing in DecoPac to make us an even stronger organization with additional capabilities. With our world class capabilities, proprietary technology platforms and experienced management team, DecoPac is well positioned to take advantage of growth opportunities in the market.” “DecoPac is an undisputed market leader that brings innovation to classic and enduring traditions for celebrations. It has been our pleasure to have contributed to their recent success and transition from family ownership,” said Alan Mantel, Partner of Snow Phipps.
Seth H. Hollander, Partner of Kohlberg commented, “A business with DecoPac’s market position and distribution capabilities represents a unique investment opportunity. We look forward to supporting Cindy and her team as they continue to execute their plan for growth in its core business and its technology platforms, while continuing to provide their customers with best-in-class service. We look forward to a continuation of the success experienced under Snow Phipps’ leadership.”
Members of DecoPac’s management team, including former CEO and current Chairman John Anderson, and the McGlynn Family, will be investing alongside Kohlberg in the transaction. Mr. Anderson will continue to serve on DecoPac’s board of directors.
DecoPac is the preeminent supplier and marketer of decorating solutions for bakeries, professional cake decorators and cake-decorating enthusiasts across the U.S., Canada and Europe. DecoPac, through its industry-leading, proprietary digital, internet-based technologies, reaches North American retailers as well as more than 20,000 independent bakeries and small in-store chains in North America. DecoPac's proprietary technologies and extensive portfolio of licenses allows customers to provide customized baked goods with short turnaround times, while in-store kiosks and online ordering software make it easy for consumers to order cakes anytime and anywhere. The Company holds key licenses to use some of the world's most recognizable entertainment brands and professional sports leagues. The Company was formed in 1982 as an internal supplier of cake decorations to McGlynn's Bakery stores, a family-owned bakery founded in 1919.
About Kohlberg & Company, LLC
Kohlberg & Company, LLC (“Kohlberg”) is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized nine private equity funds, through which it has raised over $10 billion of committed equity capital. Over its 34-year history, Kohlberg has completed 85 platform investments and over 200 add-on acquisitions, with an aggregate transaction value of nearly $30 billion. For more information, please visit www.kohlberg.com.
About Snow Phipps Group, LLC
Snow Phipps is a private equity firm focused on lower middle-market control investments with $2.4 billion of total capital commitments raised since its founding in 2005. The firm pursues a strategy of active strategic and operational management by partnering with dedicated senior executives and strong management teams. Snow Phipps targets companies where there are multiple organic and inorganic opportunities to pursue transformational growth within attractive sub-sectors across Specialty Manufacturing and Business Services. For more information, please visit www.snowphipps.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005722/en/
John Gardner, VP of Marketing, DecoPac
Tel: (763) 398 5602
Email: [email protected]
Source: Kohlberg & Company, LLC and DecoPac, Inc.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Castle Biosciences to Share New Data on DecisionDx®-Melanoma and DecisionDx®-UM at the 2023 ASCO Annual Meeting
- New Denny's Welcomes Bellflower Residents with Free Gifts for the First 100 Guests
- Atlas Global Announces Changes to Canadian Operations
Create E-mail Alert Related CategoriesBusiness Wire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!