Entrepreneurial Equity Partners (e2p) is rising up in the baking industry as it recently announced the acquisition of Roskam Baking Company. The company has merged Roskam with Organic Milling, one of its portfolio companies.
“Bob [Roskam] and I met nearly 20 years ago when we were on our respective family vacations in Costa Rica. We’ve stayed in close touch and remained personal friends ever since, which has led to meaningful mutual trust and respect, which in turn has ultimately led to three transactions that were consummated without the involvement of an investment banker,” Mark Burgett, e2p Managing Partner, commented. “The close relationship that Bob and I have shared for two decades is a great illustration of how we at e2p form mutually beneficial relationships with exceptional family business leaders like Bob.”
Founded in 1923 and headquartered in Grand Rapids, Michigan, Roskam is a leading contract manufacturer that supports many of America’s most iconic food brands and companies, noted the release.
While at a different firm, Burgett acquired two businesses from the Roskam family, including the assets that formed the core of Hearthside Food Solutions. Given the positive experience that Roskam had during both transactions and the trust that has developed since those deals, Roskam proactively reached out to Burgett to initiate the sale of the balance of his family business.
“I sought out Mark and the e2p team for a third time because of their deep expertise in contract manufacturing and the reliability they’ve shown as a partner to employees, customers, and the Grand Rapids community. For the past 100 years, my family has grown Roskam into a food manufacturing company with an industry-leading reputation for quality and reliability,” Roskam stated. “I am confident e2p is the best partner to carry on our culture of excellence and long legacy of unmatched customer satisfaction. In many cases, our customers have entrusted Roskam’s adept management and special capabilities to meet their unique needs for multiple generations, and I believe e2p is worthy of that trust.”
No financial terms of the transaction were disclosed. Burgett further noted the Roskam platform is scaled and well-diversified, with over $600 million in sales. The bakery operation has over 2 million square feet of manufacturing, warehouse, and office space across six facilities, including over 30 manufacturing and packaging lines.
To read more about this transaction, click here.
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