Roskam Baking Co., a family-owned processor of baked goods primarily for private label and contract work, has been purchased by a private equity firm.
Based in Grand Rapids, Mich., Roskam has six locations, with 30 processing and packaging lines, in western Michigan, and has estimated annual sales of about $600 million. It has been acquired by Entrepreneurial Equity Partners, which plans to merge it with Organic Baking, a company it acquired previously. Terms were not disclosed.
Roskam specializes in granola, bars and breakfast cereals, and does contract manufacturing for industry giants including Frito-Lay, General Mills and Kellogg. It makes Cracker Jack for Frito-Lay, according to a report in MiBiz.com.
Mark Burgett, managing partner of Entrepreneurial Equity Partners, helped engineer a 2009 deal that transformed units of Roskam Baking into the initial nucleus of Hearthside Food Solutions when he worked for another financial firm. Hearthside acquired much of Roskam’s granola business two years later.
“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,” Roskam said in a statement quoted in MiBiz.com.