Deal Details

Sale to Tilia Holdings

Consumer

Sale to Tilia Holdings

Summary

Baird served as the exclusive financial advisor to Ellison Bakery, LLC on this transaction

About

Ellison Bakery, LLC (“Ellison Bakery” or the “Company”), a portfolio company of an investor group led by Blackford Capital (“Blackford”), including Baird Principal Group, Concentric Equity Partners and Promus Equity Partners, has been acquired by Tilia Holdings (“Tilia”). The terms of the transaction were not disclosed.

Ellison Bakery, founded in 1945, is a premier provider of bakery solutions for the retail, food service and private label end markets. The Company formulates, develops and manufactures cookies, crunches, inclusions, bars and other baked goods. The Company has established itself as one of few providers that can offer customized solutions, leading speed-to-market and consistent product quality. Ellison Bakery is headquartered in Fort Wayne, Indiana.

Founded in 2000, Blackford is a private equity investment firm making majority control investments in founder and family-owned, lower middle-market manufacturing, distribution and services companies. Currently, Blackford has ten portfolio companies. Blackford and their team members have received numerous recognitions over the past several years, including 2018 Private Equity Firm of the Year by M&A Advisor. Blackford Capital is headquartered in Grand Rapids, Michigan.

Tilia is a private investment firm whose approach is characterized as Focus, Parity and The Tilia Way. Tilia’s focus is exclusively on business-to-business services for the food supply chain. Through an interdisciplinary approach to investing, Tilia partners with companies providing mission-critical business services that support leading and emerging CPG brands. Tilia’s Parity is the complementary skill set of its team across operations and finance, providing expertise in scaling and growing middle-market companies. This sector-focused, operating-intensive strategy has been cultivated successfully across three-decades. Its governance process – The Tilia Way – emphasizes stewardship in four types of capital: brand, financial, human and social. Tilia is headquartered in Chicago, Illinois.

Consumer

Sale to Tilia Holdings