SAN
DIEGO, Aug. 13, 2024 /PRNewswire/ -- Tide Rock,
an unlevered buyout firm with a portfolio of diverse economically
resilient B2B businesses, acquired Glenn Wayne Wholesale Bakery, a
family owned and operated full-line bakery manufacturer.
Founded in 1990, Glenn Wayne Wholesale Bakery has
built a strong reputation for producing high-volume, high-quality
baked goods, including donuts, muffins, Danish pastries, cookies,
brownies, and other baked goods from their full line manufacturing
facility strategically located in Bohemia, New York. The company's commitment to
efficient operations and quality has enabled it to expand its reach
and distribution nationally.
"We are excited to add Glenn Wayne Bakery to the
Tide Rock portfolio and help this successful company reach the next
stage of growth," said Brooks
Kincaid, President of Tide Rock. "Glenn Wayne has tremendous opportunity to
broaden its customer base and explore additional opportunities for
expansion. The bakery market has proven to be one of the most
resilient categories within the food industry, and their newly
obtained gluten-free certification opens several new markets."
According to IBIS World, the North American
bakery market, valued at $50 billion
in 2022, is expected continue to grow and reach $55.6 billion by 2028.
Glenn Alessi, one
of the founders of Glenn Wayne,
remarks, "From our humble beginnings in a 1,000 square foot
building, we have always prioritized innovation and quality. Over
the years, we've invested heavily in building a strong business
with high quality products, operationally efficient processes and
well-run facilities. Today, we are proud of our automated
production processes, inventory management, and ordering systems,
as well as our clean facilities and warehouse and our incredible
employees. We look forward to working with Tide Rock to continue
this legacy and achieve greater growth."
Glenn Wayne's
40,000 square foot facility and 6,000 square foot warehouse
location provide ample expansion opportunities and are
strategically located near priority distributors and customers. The
facilities are certified by the NYS Department of Agriculture &
Markets Food Processor License (Article 20-C), FDA Facility
Registration, BRCGS Gluten Free Certification, SQF Food
Manufacturing Certification (Level 2), Kosher Certification
(Kof-K), and Ethical Kosher Certification.
With this acquisition, Tide Rock continues to
expand its portfolio of economically resilient businesses, further
solidifying its position as a leading unlevered buyout firm.
About Tide Rock
Tide Rock is an
unlevered buyout firm that acquires companies with strong free cash
flow and grows them to scale while distributing high quarterly
yield to its investors. It owns a portfolio of economically
resilient business-to-business companies in the lower middle
market, specifically in the manufacturing, distribution, and
services industries. The company's unique model consistently drives
high yield returns without the risk profile typically associated
with other investment vehicles. It has offices in
Solana Beach, CA and New
York, NY. Learn more at tiderock.com.
About Glenn Wayne Bakery
Glenn Wayne
Bakery was founded in 1990 as a family-owned and operated wholesale
bakery manufacturing donuts, muffins, danish, pastries, cookies,
brownies, and other baked items. As a premier bakery manufacturer
providing both branded and private label baked goods strategically
located in Bohemia NY,
Glenn Wayne has been serving local
and regional customers with daily fresh deliveries and national
brands with high-end thaw to serve baked goods. Recently,
Glenn Wayne added a line of
gluten-free fresh baked goods to their portfolio.
Media Contact: Jessica McNellis
(jessica@galestrategies.com)
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SOURCE Tide Rock LLC