Dewey’s Bakery is steadily rising in the ranks of the specialty sector. Most recently, the company made a landmark move to acquire one of its French minority owners, gaining a new CEO, product brand, and more.
"Our expected growth will create new opportunities for our team members and new jobs in the community," current CEO Scott Livengood said. "It has also been gratifying to see (the) brand grow nationwide."
According to Winston-Salem Journal, Livengood stated that the investor is Eurazeo, which had a $25 million stake in the company. The investor is a massive industry force, playing a significant role in Dewey’s growth up until this point. The companies have not disclosed specific details of the transaction.
Mike Senackerib, Co-Founder of Farm and Oven Snacks, will be Dewey’s new CEO following the acquisition. The other Co-Founder of Farm and Oven Snacks, Kay Allison, will be the new CMO. The company’s headquarters will remain in Winston-Salem, North Carolina, with plans for roughly 50 more employees in the pipeline.
"With the added help of Eurazeo’s deep resources and know-how, and (Senackerib's) and (Allison's) proven leadership, we aim to become a leader in our category in the years ahead,” Livengood continued. “They will add incredible value and significantly elevate the trajectory of Dewey’s possibilities."
Senackerib noted that he participated in the sale because "Scott and his team have created an exceptional product offering that we believe will garner continued success in the market as customers and consumers increasingly seek out authentic brands with high-quality ingredients and delicious flavors."
How will Dewey’s leverage this strategic acquisition? Stay tuned as we at Deli Market News investigate.