DAK, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces an investment in its client Levain Bakery by Stripes Group.
Since its founding in New York City in 1994, Levain Bakery has grown into a neighborhood institution for locals and an international destination for world travelers. Levain’s provides world-famous cookies and other baked goods. They are renowned for the “ultimate cookie” which has been named one of “THE 50 NEW YORK FOODS YOU NEED TO EAT BEFORE YOU DIE.”
DAK served as the exclusive investment banker and financial advisor to Levain Bakery managing the divestiture process.
“The owners of Levain Bakery have built an iconic New York institution almost exclusively by word of mouth. This transaction allows them to reap the benefits of their hard work, while gaining a strategic partner to help them continue to drive their vision” stated Michael Richmond, Managing Director of DAK.
Stripes Group is an NYC-based growth equity firm that invests in entrepreneurial consumer and internet business with passionate owners. Levain Bakery is a terrific addition to its portfolio that includes other leading brands such as: GrubHub, Stella & Chewy’s, On Running, and GoFundMe.