PAUL, MN and NEWBURYPORT, MA — Leading premium dessert company Dessert Holdings announced the closing of the acquisition of Dianne’s Fine Desserts, a major provider of premium frozen thaw-and-serve desserts from Geneva Glen Capital.
“Dianne’s possesses a distinctive set of product capabilities and customer relationships that are highly complementary with Dessert Holdings,” said Paul Lapadat, CEO of Dessert Holdings. “It has an exceptional, innovative team that we are thrilled to welcome to the Dessert Holdings family.”
Founded over 40 years ago, Dianne’s boasts a broad product line of items including cheesecakes, layered cakes, pies and tarts, brownies and bars, individual minis, and specialty desserts crafted with high quality ingredients. The company operates two Global Food Safety Initiative-certified manufacturing facilities.
Mike Knowles, CEO of Dianne’s, and Dan Scales, president of Dianne’s, will retire in conjunction with th transaction.
“We are proud to have grown Dianne’s into a differentiated national supplier and value-added partner to the foodservice channel,” said Knowles.
“We are excited for Dianne’s to become part of Dessert Holdings and believe its scale platform and capabilities will enable us to continue to grow,” Scales said.
In the transaction, Dessert Holdings was represented by Ropes & Gray as lefal advisor, PwC as accounting advisor and William Blair as exclusive financial advisor. Dianne’s was represented by Katten Muchin Rosenman as legal advisor, RSM as accounting advisor, and Lazard as exclusive financial advisor.
