Gryphon Investors, a middle market private equity firm based in San Francisco, agreed to acquire Lawler Foods, a manufacturer of gourmet cheesecakes, layer cakes, pies and other desserts for retail and foodservice customers across North America. Terms of the transaction were not disclosed. The acquisition is expected to close by the end of July.
Lawler Foods will be part of the same premium dessert platform as The Original Cakerie, which Gryphon acquired in December 2015.
Lawler Foods, Humble, Texas, will retain a significant investment in the company, and its management team will remain in place under the new ownership. Wes Stasny, vice president of sales, will be promoted to president as part of the transition.
“The acquisition represents an outstanding strategic fit for Gryphon’s premium dessert platform,” says Keith Stimson, partner at Gryphon. “Lawler Foods’ long-term focus on producing best-in-class quality products is consistent with The Original Cakerie’s own commitment to quality. With little overlap in product offerings and customers between the two businesses, we are confident that the two companies will help expand our customer relationships with leading North American retailers and foodservice accounts.”
“Lawler Foods is a perfect complement to The Original Cakerie on many levels, expanding both product offerings and the geographic footprint,” adds Matt Farron, Gryphon principal.
“With both Lawler Foods and The Original Cakerie as cornerstones, we look forward to building the dominant premium dessert manufacturer for the retail and foodservice industry across North America,” adds Dennis O’Brien, Gryphon operating partner.
“While our family business has grown successfully for more than 40 years, joining Gryphon’s premium dessert platform will enable our company to achieve a new level of success,” says Mike Lawler, a member of the founding Lawler family. “We value the ability of the Gryphon operations team to help accelerate our expansion.”