Philadelphia / PA. (gra) Graham Partners, a private investment firm targeting advanced manufacturing companies, is pleased to announce that two of its portfolio companies, Woodland Gourmet, a provider of plant-based specialty ingredients, and Commercial Bakeries Corporation, a producer of private label packaged cookies with a focus on specialty / premium, better-for-you, and seasonal / limited time offering products, each completed an add-on acquisition this spring. These mark the first add-ons for Woodland and Commercial Bakeries since Graham acquired the businesses, and Graham views these add-ons as highly complementary – adding new products, additional manufacturing capabilities and capacity to each organization, among other synergies.
In April, Woodland Foods acquired Idan Foods a founder-owned and operated provider of breadings and batters, baking mixes, and seasonings based in Hawthorne, NJ – see bakenet:eu on 2024-04-30. Graham views Idan as an innovation-driven partner serving customers across the foodservice and industrial channels. With the acquisition of Idan, Woodland adds new product capabilities, customers, and end markets. Woodland believes there are ample opportunities to pair Idan’s breading and batter capabilities with Woodland’s experienced culinary team to drive innovation and enable the combined business to bring unique products to market. Graham believes that the Idan acquisition further positions Woodland as a critical, custom, culinary solutions partner to customers across the foodservice and industrial channels.
More recently, Commercial Bakeries acquired Imagine Baking Inc., a manufacturer of specialty / premium and better-for-you crackers, cookies, biscuits, and brittle – see bakenet:eu on 2024-05-18. Graham’s original investment thesis for Commercial Bakeries was premised on continued growth in private label as retailers look for seasonal, innovative, and better-for-you products for their customers, and the Imagine Baking acquisition provides the opportunity for Commercial Bakeries to capitalize on trends in the adjacent cracker market. Imagine Baking, headquartered in Sandusky (OH), possesses a 114,100 square-foot facility that includes segregated manufacturing lines, multiple packaging capabilities, and a sizeable R+D lab, which Graham believes will unlock additional opportunities for Commercial Bakeries.
Andrew Snyder, Managing Principal at Graham Partners, said «We view Idan Foods and Imagine Baking as highly complementary businesses to the Woodland and Commercial Bakeries platforms that will ultimately strengthen and scale their offerings. We look forward to leveraging Graham’s experience and operating resources to integrate the businesses and realize the potential of these combinations as innovative food products and flavor profiles continue to be in high demand.»
Idan Foods is a developer and manufacturer of breading, batters, coating systems, baking mixes, and seasonings. Idan serves as a key partner to high-growth foodservice operators, large established foodservice distributors, and innovative industrial customers through its high-quality customer service and its ability to develop customized solutions with unique flavors, textures, crunch, spice, and aesthetic. Imagine Baking is a manufacturer of crackers, cookies, biscuits, and brittle, focusing on the gluten-free and organic spaces. Imagine Baking has a strong track record of partnering with its customers to develop, optimize, and commercialize innovative, trend-forward specialty baked products with a health and wellness emphasis.
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