RICHMOND, CA – Rubicon Bakers, a portfolio company of Trive Capital, announced that it has acquired Fairfield, CA-based Just Desserts.
Just Desserts is a manufacturer of high-quality baked goods sold in supermarket bakeries nationwide, which will create a combined bakery platform with a broader customer base, according to Rubicon. The acquisition positions the business as a market leader and will allow the group to focus on providing innovative products, quality customer service and manufacturing capabilities to serve customers regionally and nationally.
“We are excited to add the Just Desserts brand and products to our portfolio,” said Rubicon founders Leslie Crary and Andrew Stoloff in a company statement. “Just Desserts and Rubicon share in the focus and passion to deliver high-quality and innovative products and we couldn’t be more thrilled to scale our footprint to a multi-facility platform so that we can continue to serve customers nationwide The combination with Just Desserts, located just down the road from us, provides exciting career opportunities and flexibility for our employees as the business grows.”
Crary also added that the two brands both have rich history in the baking industry and share the same commitment to customers, quality, and community.
“We’ll continue to operate as two brands so customers can expect the same high-quality service and products that they always have from Rubicon Bakers and Just Desserts,” she said. “We have implemented best practices from each brand and now have two state of the art facilities to support new innovation and our ever-growing customer demand.”
Just Desserts was equally enthusiastic about the acquisition, according to Michael Mendes, former managing partner and CEO of the company.
“I am very pleased to transition stewardship of Just Desserts to Andrew, Leslie and Trive Capital,” he said. “The strategic combination of these two premium bakeries will expand the reach of our products across the country and create exciting opportunities for the talented combined employee base.”
Chris Zugaro, partner at Trive, added that the private equity firm has enjoyed working with Rubicon, which has a mission to be more than a bakery. The baking company hires those who have been incarcerated or homeless or are recovering from substance abuse. The vision is to spread compassion and build a strong and empowered community.
“The acquisition of Just Desserts represents a key milestone for Rubicon and positions the businesses to continue providing innovative solutions for their in-store bakery customers at greater scale,” Zugaro said.
