OMAHA, NE — Private equity firm Stellex Capital Management has acquired Omaha, NE-based J. Skinner Baking, a manufacturer of artisan baked goods and one of the largest in-store bakery (ISB) providers in the US.
J. Skinner manufactures an assortment of ready-to-eat baked goods for ISBs, foodservice and co-pack partnerships.
“Stellex has supported the business with significant incremental day-one capital and liquidity to enable the company’s aggressive expansion plans,” said Audie Keaton, CEO of J. Skinner. “This new partnership will seek to strengthen our existing operations, support the company’s long-term growth agenda, drive sustainability, and bring value to J. Skinner’s employees, the Omaha community and our nationwide customer base.”
In tandem with the acquisition, J. Skinner has also strengthened its operational leadership with the promotion of Doug Davidson, a long-time bakery operator, to the role of president and COO.
“With a long history of driving value for its strategic retail partners through baked goods innovation, quality and service, J. Skinner is now equipped for its next stage of product and capability expansion,” said Trey Lee, managing director at Stellex. “We are thrilled to welcome Doug to the team and invest behind this inflection point with our capital and strategic resources as the company moves further to meet customers at their critical points of need.”
D.A. Davidson & Co. served as the financial advisor for this transaction.
