Rochelle Park, NJ – DAK, a leading investment bank specializing in middle market mergers and acquisitions worldwide, announced today that its client, Jimmy’s Cookies has acquired Ecce Panis, Inc., an artisan bread brand from the Pepperidge Farm division of Campbell Soup Company and its bakery operations located in South River, New Jersey.
DAK served as the exclusive investment banker and financial advisor to Jimmy’s Cookies initiating and managing the entire acquisition process.
“This acquisition will accelerate Jimmy’s Cookies industry leadership position while simultaneously adding greater value to the company.” stated Alan Scharfstein, President of DAK who engineered this transaction in the midst of the global pandemic, along with his team Ari Fuchs, Managing Director and Melvyn Threatt-Peters II, Vice President.
Ecce Panis is a premium brand of hand crafted, stone baked gourmet artisan breads and rolls that are sold to consumers through the in-store bakeries of leading retailers and grocery chains across the country. The par-baked frozen breads and rolls are shipped to customers where the baking process is finished within their in-store bakeries.
Howard Hirsch Jimmy’s CEO said, “The addition of the Ecce Panis brand is consistent with our strategy to drive growth through expanding and diversifying our product line. Artisan breads represent a fast-growing segment of the bakery category and will complement our cookie business, providing customers with a full range of premium baked goods.”
Jimmy’s Cookies plans to operate the facility producing the same premium quality of Ecce Panis products. The acquisition of this 113,000 sq. ft. state of the art baking facility will provide significant additional capacity for its growing premium cookie products.
Michael Pisani, Jimmy’s President added: “We are excited about this acquisition doubling our manufacturing capacity and keeping so many quality jobs in New Jersey”.
About Jimmy’s Cookies
Jimmy’s Cookies’ is a Clifton, New Jersey based bakery and is a category leading producer of premium gourmet cookies and cookie dough serving the nation’s top grocery and mass-market retailers.
About Campbell Soup Company
Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup, baked snacks, and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” Arnott’s,” and “V8.”
About DAK
DAK is a leading investment bank serving middle market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations, and fairness opinions. Since 1984, DAK has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the proprietary process that allows clients to maximize the value of their business. DAK is headquartered in Rochelle Park, NJ.
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