December 17, 2015
The Original Cakerie, British Columbia’s manufacturer of frozen desserts that serve the retail and foodservice industries across North America, has landed a big investor. Gryphon Investors, a private equity firm based out of San Francisco, California announced it’s making a majority investment in the company.
The Canadian company was founded in 1979 and has two production facilities – its head office location in Delta, British Columbia, and another in London, Ontario that serve its more than 300 customers in North America.
The Original Cakerie is an award winning company, winning a 2015 Food and Beverage (FABI) Award for its Inspired by Happiness gluten-free two-layer Dreamin’ cakes which the company put years of R&D into creating.
“Gryphon has a long-standing track record of success investing in the food and beverage space, and assisting founder-owned businesses like The Original Cakerie in further developing their category leadership. The Original Cakerie is a uniquely attractive platform for expansion in the North American baked goods sector, and we believe Gryphon’s Operations Resources Group and executive advisors will provide management with highly relevant and practical resources as they continue to build the company,” said Dennis O’Brien, Partner and Head of Gryphon’s Operations Resources Group.
Gryphon’s previous investments in the industry include Flagstone Foods, Trusthouse Services Group, and Eight O’Clock Coffee.
Matt Farron, a Principal in Gryphon’s Consumer Group, added, “The Original Cakerie is poised for ongoing rapid growth as it continues to bring innovative, delicious dessert products to its retail and foodservice partners. We look forward to working with Dave and his team to continue to drive The Original Cakerie’s growth both organically as well as through strategic add-on acquisitions.”
President and CEO of The Original Cakerie, Dave Hood noted, “We are very excited to partner with Gryphon, given their proven track record in the food sector and the significant resources they bring to the table to assist us in building the company and accelerating our growth. Gryphon’s investment will provide our customers and employees with the opportunity to be associated with an exciting growth platform and enduring leader in the premium baked goods space. We welcome Gryphon’s partnership as we enter our next stage of growth.”
Hood will continue to head up the company after the acquisition is finalized.