Global Bakeries Acquires Bubbles Baking
LOS ANGELES--(BUSINESS WIRE)--Mar 4, 2019--On 3/4/2019, Global Bakeries, LLC (“Global Bakeries”) closed its acquisition of California’s Bubbles Baking Co. (“Bubbles”) lead by Surge Private Equity with The Firmament Group (“Firmament”), a leading provider of tailored debt and equity capital solutions to small and medium-sized enterprises (SMEs).
For over 55 years Bubbles has been serving large grocery stores and commercial retailers across the nation. With 55 employees and 300 SKUs of frozen cakes and delicacies, Bubbles provides its customers with an unrivaled menu of customized products. Headquartered in Van Nuys, CA, Bubbles is only 8 miles away from Global Bakeries. Bubbles is to be a fully owned subsidiary of Global Bakeries. Global Bakeries CEO Chris Botticella will lead both companies.
Global Bakeries CEO, Chris Botticella, stated, “For over 55 years Bubbles has set the standard in homemade pastries, and we at Global Bakeries not only want to continue that tradition but enhance and build on their standard of excellence with our increased efficiencies and new product lines. We are excited to add Bubbles into our family and look to the future with further great excitement.”
Tom Beauchamp, Partner at Surge Private Equity, said, “The acquisition of Bubbles allows Global Bakeries to expand into the dessert baking arena. From better ingredient pricing to offering customers more product lines, we see a lot of opportunity in the fragmented niche boutique baking space to add value by consolidation of these strong brands and products. We aim to do several add on acquisitions this year.”
About Global Bakeries
Founded in 1985, Global Bakeries is a high-volume commercial bakery specializing in bagels, flatbreads, croissants, pita bread and pita chips. Global Bakeries is one of the largest specialty bakeries privately owned in the western half of the United States. Employing more than 70 employees in their state-of-the-art facility in Pacoima, California, the bakery boasts an over 10-year average customer tenure.
About Surge Private Equity
Surge Private Equity ( https://www.SurgePE.com ) is a Dallas based private equity firm that seeks majority investments in growing businesses with $2-5MM of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility through lower investment minimums. Surge primarily invests in companies where the seller will remain on board in an ongoing capacity.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190304006048/en/
CONTACT: Tom Beauchamp
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE RETAIL FOOD/BEVERAGE
SOURCE: Surge Private Equity
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PUB: 03/04/2019 07:40 PM/DISC: 03/04/2019 07:40 PM