ST. PAUL, MN — Dessert Holdings, a leading North American premium dessert company, has announced its acquisition of Aurora, CO-based Steven Charles — A Dessert Company, a producer of gourmet desserts. The acquisition will provide Steven Charles with the platform and resources for developing signature dessert products at scale for its blue-chip customer base. Steven Charles will continue to be operated by its current management team led by Rebecca O’Hara, president.
Founded in 1995 by Steven Fabos, Steven Charles is known for its culinary innovation and high-end product development. Charles Kosmont joined at the helm in 2004. Together they built a unique bakery that provides gourmet desserts to foodservice and retail customers across North America.
“As the leading premium desserts platform in North America, we are investing behind category-defining dessert manufacturers like Steven Charles to help them reach their full potential,” said Paul Lapadat, CEO of Dessert Holdings. “Steven Charles has a heritage of creating and commercializing award-winning desserts, and that commitment to excellence in innovation and service has fostered long-standing relationships with a number of the leading foodservice and retail operators in North America. We see an incredible opportunity to supplement these strengths to support Steven Charles’ domestic growth while also investing to expand the business globally.”
The portfolio and expertise at Dessert Holdings, whose premium, clean-label brands include The Original Cakerie, Lawler’s Desserts and Atlanta Cheesecake Company, creates natural synergies for capital investments and product development.
“Dessert Holdings has a complementary product portfolio to ours and brings capital and expertise that will help us accelerate our growth journey,” O’Hara said. “Steven and Charles are proud and excited to hand the company over to the capable hands of Dessert Holdings, who will continue to value what makes Steven Charles so special as we are aligned on a strategy that preserves our commitment to culinary innovation and extraordinary service for our discerning customers.”
This acquisition is the next phase of continued growth for Steven Charles, as the bakery brings Kosmont’s and Fabo’s vision to fruition.
“Dessert Holdings has a complementary product portfolio to ours and brings capital and expertise that will help us accelerate our growth journey,” said Rebecca O’Hara, president of Steven Charles – A Dessert Company. “Steven and Charles are proud and excited to hand the company over to the capable hands of Dessert Holdings, who will continue to value what makes Steven Charles so special."
“I have loved the creativity and working with the team that brings joy and fun to so many,” Kosmont said.
“We want to thank our integral partners who helped make this happen, especially our staff, who helped to build this company to what it is today,” Fabos added. “We look forward to seeing the continued growth and success of the company and know the future will be even more incredible.”
Bain Capital Private Equity acquired Dessert Holdings in June 2021 with a goal to support its growth acceleration through organic expansion and select acquisition opportunities.
“With our investment in Dessert Holdings, we have the privilege of backing Paul and his team as they build the leading premium dessert manufacturing company in North America, and the acquisition of Steven Charles is a perfect fit for that vision,” said Adam Nebesar, a managing director at Bain Capital Private Equity. “We look forward to partnering with Rebecca and the Steven Charles team to support their growth ambitions.”
Financing for the transaction was led by Antares Capital and Barclays. Terms of the private transaction were not disclosed.
Read more about how O’Hara has led Steven Charles’ bakery operations team with courage and collaboration in the Commercial Baking August | Q3 issue.
