Arbor Investments, Chicago, completed the acquisition of The New French Bakery, Inc., a Minneapolis-based producer of premium branded and private label take-and-bake, par-baked and fresh artisan breads. Arbor Investments partnered with management, led by Jeff Getzkin, New French Bakery’s vice president of sales, and Michael Schultz, a long-term baking industry veteran, in its acquisition of New French Bakery. Terms of the sale were not disclosed. New French Bakery will continue to operate out of its existing facilities.
"We were drawn to New French Bakery due to the company's superior quality products and reputation in the baking industry," says Brody Lynn, senior associate of Arbor Investments. "The company has thrived under the ownership of Peter Kelsey, who was recently named Minnesota's Small Business Person of the Year, and we are thrilled to be acquiring a business as it enters its next phase of growth."
"Arbor's extensive experience in the food industry made them a perfect partner for New French Bakery, our management team, employees and customers," says Kelsey, founder of New French Bakery. "I'm very proud of what we have accomplished at New French, and look forward to Arbor, with its resources and capital, building upon the foundation we have laid over the last 18 years."