G2 served as the Exclusive Sell-Side Advisor to Koffee Kup Bakery on its Sale to an undisclosed buyer
Koffee Kup Bakery (“KKB” or the “Company”) is a manufacturer of baked goods, including bread, donuts, and English muffins, delivering to an established base of high-volume customers in the Northeast and Mid-Atlantic regions. The Company distributes its products to over 4,500 delivery points supported by a 135-route distribution network.
Koffee Kup Bakery, founded in 1940, experienced tremendous growth in 2013 through the acquisition of Vermont Bread Company. The Company is in the process of repositioning its business to capitalize on a compelling platform of established brands, private label partnerships, long-term relationships with blue-chip retailers, and a vast distribution network. The Company sought a financial partner to accelerate its next phase of growth and profitability. KKB is one of largest employers in the state of Vermont, with 500 employees across its three bakery facilities: Brattleboro, VT; Burlington, VT; and North Grosvenor Dale, CT.
G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to KKB, leading a targeted and efficient sell-side effort focused on finding the optimal partner to support the Company’s long-term growth strategy. G2 and the Company have had a long-term relationship prior to the transaction process including G2 providing financial advisory and liquidity management support.
Koffee Kup Bakery successfully completed a transaction with American Industrial Acquisition Corporation (“AIAC”) on April 1, 2021. AIAC has significant experience partnering with manufacturing and distribution businesses and is well positioned to continue the expansion of KKB, capitalizing on operational improvements and driving growth momentum forward.
“Prior to the transaction, G2 had been serving as a financial advisor to KKB. Their in-depth knowledge of the company’s needs and shareholders’ criteria allowed G2 to find the best fit for a new investor. Once our shareholders chose the right investor to partner with, G2 put all their efforts towards completing the deal in a timely manner. In the end, the work done by G2 maintained the criteria set out in the LOI and facilitated the entry of a new investor with deep ties in Vermont industry. The completion of this transaction will certainly drive the development of KKB in the interest of all its employees as well as financial partners and suppliers,” said Hubert Aubery, owner of KUPCO
“The success of this transaction is a fantastic example of working with the current majority shareholder, KUPCO, who is committed to their employees. The owners and management team at KKB understood that in order to take their company to the next level, they needed a partner who would not only provide financial support, but operational expertise at the executive level. With AIAC’s commitment to not only providing immediate capital infusions but enriched credit facilities, together KKB & AIAC will uncover substantial operational improvements and ultimately maximize the growth potential of the Company,” said Pat Reinhardt, Managing Director of G2.
About Koffee Kup Bakery:
KKB is a leading, VT-based manufacturer and distributor of branded baked goods. The Company manufactures 325 bread, bun, English muffin, and donut SKUs, which it delivers to over 4,500 delivery points through its Company-operated distribution network. The Company sells its leading brands throughout the Northeast and boasts a diverse and tenured base of over 1,000 customers.
About American Industrial Acquisition Company:
Founded in 1996, American Industrial Acquisition Corporation is an investment firm, based in New York, New York. The firm seeks to invest in the manufacturing, aerospace, automotive, truck, rail, appliance, power generation, mining, oil and gas, packaging, pulp and paper, medical equipment and pharmaceutical sectors.
About G2 Capital Advisors
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.
CONTACTS ON THIS DEAL:
Pat Reinhardt, Managing Director: T: 508.287.7065 E: [email protected]
Michael Williams, Director, Industrials & Manufacturing: T: 917.523.2164 E: [email protected]
Matthew Ball, Associate: T: 978.914.4421 E: [email protected]
Will Luetmer, Associate: T: 857.449.0236 E: [email protected]
Evan Carlson, Senior Analyst: T: 775.445.0677 E: [email protected]