Bohemia, N.Y.-based, Glenn Wayne Wholesale Bakery has been acquired by Tide Rock, according to a release from the investment firm. Glenn Wayne was founded in 1990 as a family-owned and -operated wholesale bakery processing donuts, muffins, Danishes, pastries, cookies, brownies and other baked goods for branded and private-label channels nationwide.
Tide Rock is an unlevered buyout firm focused on building a portfolio of economically resilient business-to-business companies, the release noted. It expects to contribute to Glenn Wayne’s next stage of growth, expanding its customer base and explore other expansion opportunities, the company said. Tide Rock believes Glenn Wayne’s recently obtained gluten-free certification will open new doors for the company.
Glenn Wayne Bakery co-founder Glenn Alessi said the company “invested heavily in building a strong business with high-quality products, operationally efficient processes and well-run facilities” over the years. The company has grown from 1,000 sq. ft. of processing space to a 40,000-sq.-ft facility and 6,000-sq.-ft. warehouse today — both with “ample expansion opportunities.”
