Nothing Bundt Cakes Expands Corporate Bakery Footprint, Acquires San Diego Bakeries
LOS ANGELES, Nov. 25, 2019 // PRNewswire // - Nothing Bundt Cakes ("NBC"), a portfolio company of Levine Leichtman Capital Partners ("LLCP"), announced today that it has successfully acquired six NBC franchisee bakeries in the San Diego market ("San Diego Bakeries"). NBC is a market leading franchisor and operator of gourmet bakeries offering specialty Bundt cakes and related merchandise with over 320 locations in the United States and Canada.
As company-owned operations, the San Diego Bakeries will benefit the NBC brand and support its West Coast bakery owners, eventually becoming NBC's training base on the West Coast and serving as additional outlets for research & development and product innovation. The expanded company-owned geographical footprint will also allow NBC more direct touchpoints with its customers to ultimately drive the highest levels of guest satisfaction.
Kyle Smith, CEO of Nothing Bundt Cakes, commented, "We are thrilled to add these San Diego Bakeries to our company-owned portfolio that includes locations in Dallas, Texas and Baton Rouge, Louisiana. We believe that this acquisition provides us a great opportunity to improve our overall support to our bakery owners, while providing an extraordinary experience to our guests."
Matthew Frankel, a Partner at LLCP, stated, "This acquisition demonstrates our continued support of the NBC investment. We remain focused on building value for the benefit of NBC's bakery owners, guests, employees and investors. We are excited to take part in the next chapter of growth for the San Diego Bakeries."
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 35-year track record of successfully investing across various targeted sectors, including franchising, professional services, education and engineered products. LLCP utilizes a differentiated Structured Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.
LLCP's global team of dedicated investment professionals is led by six partners who have worked together for an average of 22 years. Since inception, LLCP has managed over $10.7 billion of institutional capital across 14 investment funds and has invested in over 80 portfolio companies. LLCP currently manages $6.4 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Dallas, Chicago, Charlotte, London, Stockholm and The Hague.
About Nothing Bundt Cakes
Nothing Bundt Cakes was founded in Las Vegas in 1997 and offers premium, high-quality Bundt Cakes in a variety of sizes and classic flavors. There are more than 320 corporate and franchised bakeries in 38 U.S. states and Canada. Nothing Bundt Cakes has been named to several prestigious industry lists, including Franchise Business Review's "Top 50 Franchises" and "Top 40 Food Franchises," Franchise Times' "Fast and Serious" for four years in a row, and numerous local and regional vote-driven "best of" lists. The brand has also been featured by national media such as Entrepreneur, The Wall Street Journal and CBS' "The Talk."
For more information about Nothing Bundt Cakes, visit https://www.nothingbundtcakes.com.
Mark Semer or Connor Moriarty
SOURCE Levine Leichtman Capital Partners