Milling & Baking News - July 27, 2021 - 12

BAKEMARK AND RXBAR
Clearlake Capital Group to acquire
BakeMark from Pamplona Capital
PICO RIVERA, CALIF. - Private equity
firm Clearlake Capital Group, LP has
signed an agreement to acquire BakeMark
USA, LLC from Pamplona Capital
Management. Financial terms of the
transaction were not disclosed.
" We are thrilled to partner with BakeMark
and support the company in its next
stage of accelerated growth, " said José E.
Feliciano, co-founder and managing partner,
and Arta Tabaee, managing director,
Clearlake. " The BakeMark investment is
a natural extension of Clearlake's deep
experience investing in both the food and
beverage and distribution and logistics ecosystems.
We believe long-term market tailwinds,
including increased focus on supply
chain simplification and growing demand
for ethnic and specialty bakery products,
offer a unique opportunity to invest behind
a category leader like BakeMark. We are
eager to support the management team and
bring together all of Clearlake's available
resources to drive value creation, accelerate
organic growth, and create an industry
consolidation platform. "
Based in Pico Rivera, Calif., BakeMark
provides distribution services through a
network of 29 distribution centers and 5
manufacturing facilities across the United
States and Canada. BakeMark offers a
diversified line of products, ingredients
and supplies to the food industry under
brands that include Westco, Multifoods,
Trigal Dorado, Best Brands, BakeQwik,
BakeSense, C'est Vivant and Sprinkelina.
BakeMark has approximately 1,000
employees across North America.
Founded in 2006, Clearlake Capital
Group's target sectors are consumer,
industrials and technology. Clearlake
currently has approximately $39 billion of
assets under management, and its senior
investment principals have led or co-led
more than 300 investments. The firm has
offices in Santa Monica, Calif., and Dallas.
The company's portfolio includes Chef's
Cut Real Jerky and Proven Brands, manufacturer
of Thinsters and ParmCrisps
snacks. The private equity firm earlier
invested in World Gourmet Marketing,
LLC, which develops and markets snacks
under the Sensible Portions brand. World
Gourmet was sold to Hain Celestial in 2010.
The transaction would mark the second
time BakeMark ownership has changed
hands in four years. In 2017, Pamplona
Capital Management acquired the business
from CSM Bakery Solutions. At that time,
Marianne Kirkegaard, president and chief
executive officer of CSM, said the sale of
BakeMark was a key move in its decision to
focus its core business of value-added bakery
products and ingredients. Meanwhile,
William Pruellage, co-managing partner at
Pamplona, said he believed BakeMark was
RXBAR enters the RTE cereal
category with plant-based option
CHICAGO - Kellogg subsidiary RXBAR,
which in June introduced its first-ever plantbased
offerings with the debut of plant protein
bars, is entering the ready-to-eat cereal
category with the launch of RX Cereal.
Rolling out to select retailers nationwide,
RX Cereal is inspired by the taste of
the company's top-selling protein bars and
classic cereal flavors. The new cereal will
be available in three varieties: chocolate
almond, vanilla almond and strawberry.
bakingbusiness.com
The cereals are made with a mix of pea
protein, brown rice, almonds and fruit,
and contain 11 to 12 grams of plantbased
protein and 3 to 4 grams
of fiber per serving.
" We're strong believers
in taking an honest,
straightforward
approach to food and
using simple ingredients
and protein to help fans
poised to succeed as a stand-alone entity and
capitalize on new growth opportunities.
Commenting on the just announced sale
to Clearlake, Mr. Pruellage said, " It has
been an absolute pleasure working with
Jim (Parker, CEO of BakeMark) and his
team to establish BakeMark as an independent
platform and to aggressively grow the
business into the clear market leader in the
bakery distribution space through both
organic initiatives and add-on acquisitions.
We wish BakeMark and Clearlake continued
success in the next chapter of growth. "
Mr. Parker added, " Today marks an
exciting new chapter in BakeMark's history.
Since acquiring the business in 2017,
Pamplona has been a trusted and supportive
partner, helping to guide BakeMark's
management team through a successful
period of sustained growth.
" Clearlake's operational insights and
experience in the food and beverage
sector will accelerate that growth and
support our commitment to deliver the
best quality products and services for our
customers. " MBN
fuel their day, " said Jason Moraff, vice
president of marketing at RXBAR. " That's
why we created RX Cereal, to bring that
approach to a category that needs more
wholesome, convenient options that not
only taste amazing but are made with real
ingredients people recognize. "
Founded in 2012, RXBAR offers an
assortment of protein bars, nut
butters and oatmeal made
with simple ingredients,
including egg whites, dates
and nuts. Battle Creek,
Mich.-based Kellogg Co.
acquired the business for
$600 million in 2017. MBN
MILLING & BAKING NEWS 11
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Milling & Baking News - July 27, 2021

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