Dessert Holdings® has taken a new step in growth with the acquisition of Georgia-based Kenny’s Great Pies, a premier manufacturer of high quality, clean label, cream-based pies, from Kaho Partners.
“Kenny’s clean label, flavorful pies are complementary to our portfolio of premium desserts,” said Paul Lapadat, Chief Executive Officer of Dessert Holdings. “Kenny’s has established a distinctive market position, fostering a number of long-standing relationships with leading foodservice and retail operators, and major clubs in North America, earning a loyal consumer following. Dessert Holdings is excited to supplement these relationships and expand the Company’s distribution network.”
The acquisition will complement Dessert Holdings’ existing platform of premium dessert brands, according to a press release, serving retail and foodservice customers.
“We are excited to become a part of a leading premium desserts platform in North America, and we believe Dessert Holdings’ experience and complementary product portfolio provides specialist expertise to help us accelerate our growth,” said Gary Muter, Chief Executive Officer at Kenny’s. Muter will continue to lead the current management team, which will maintain its oversight of the company. “We see an incredible opportunity to further promote Kenny’s all natural differentiated product offerings and signature Key lime pie that will pull consumers to store bakeries.”
Financial terms of the transaction were not disclosed, though the release did detail PwC having served as accounting advisor, and Ropes & Gray as legal advisor to Dessert Holdings.
Integris Partners served as financial advisor, and Holland & Knight served as legal advisor to Kenny’s Great Pies.
“Since our initial investment in Dessert Holdings, the business has grown tremendously,” said Adam Nebesar, a Partner at Bain Capital, which acquired Dessert Holdings in June 2021. “We are very pleased with the Desserts Holdings performance to date and look forward to partnering with Gary and the Kenny’s team to support their growth ambitions.”
To read more details, see the full release here.
Congratulations to both these companies as they forge a new chapter together!
