NASHVILLE, TN – Crown Bakeries, a manufacturer of fresh and frozen breads, baked goods and dough products announced its acquisition of Michel’s Bakery.
“We’re delighted to welcome the Michel’s associates into our Crown Bakeries family,” said Yianny Caparos, president of Crown Bakeries. “I’ve personally known Jon for decades and have great respect for Michel’s as a leading baker of specialty products for more than a century. It’s exciting to partner with businesses who share Crown’s mission and commitment to treat customers like royalty, with innovation and high-quality products as a core part of their DNA.”
Founded in 1898 in Philadelphia, Michel’s Bakery provides a range of high-quality sweet baked goods for leading consumer brands and grocery retailers. “Our family is proud of the company we’ve built and as we evaluated ways to better serve our customers and accelerate growth, are thrilled to partner with Crown Bakeries,” said Jon Liss, general manager of Michel’s Bakery.
“It’s exciting to partner with businesses who share Crown’s mission and commitment to treat customers like royalty,” said Yianny Caparos, president of Crown Bakeries
Crown Bakeries is owned by Arbor Investments, a specialized private equity firm that focuses exclusively on acquiring premier companies in food, beverage and related industries. Arbor announced the recapitalization of Crown Bakeries (formerly The Bakery Companies) with founder and CEO Cordia Harrington in October 2019.
“We’re honored to welcome Jon and his team of passionate and talented bakers, and excited to rapidly grow the Crown platform through organic investment in new equipment and facilities and highly accretive acquisitions like Michel’s,” said Chris Tuffin, Arbor partner.
Michel’s will continue operating out of its existing manufacturing facility in Philadelphia, and Liss will retain his position as general manager for the organization. The financial details of the transaction were not disclosed.