Grand Rapids / MG. (ski) The James Skinner LLC , a premier manufacturer of artisan baked goods including danishes, muffins, cinnamon rolls and so on, announced that it has been acquired by Stellex Capital Management LLC, a P.E. firm that invests in middle market companies in North America and Europe.
Headquartered in Omaha (Nebraska), the brand «J. Skinner» provides ready-to-eat baked goods through grocery in-store bakeries (ISB), foodservice providers, and co-pack partnerships. Founded in 1983, the Company has grown into one of the largest ISB providers in the U.S., selling its products in over 30,000 retail locations across all 50 U.S. states.
Stellex’s partnership with J. Skinner will support investment into production capacity expansion, increased automation, and new product development. In addition to financial resources, the Company also announced the appointment of multi-decade bakery operator, Doug Davidson, as President and COO further adding to the wealth of category expertise while bolstering operational leadership.
«Stellex has supported the business with significant incremental day-one capital and liquidity to enable the company’s aggressive expansion plans,» said Audie Keaton, CEO of J. Skinner. «This new partnership will seek to strengthen our existing operations, support the Company’s long-term growth agenda, drive sustainability, and bring value to our employees, the community, and our nationwide customer base.»
«With a long history of driving value for its strategic retail partners, J. Skinner is now equipped for its next stage of product and capability expansion,” added Trey Lee, Managing Director at Stellex. “We are thrilled to welcome Doug to the team and invest behind this inflection point with our capital and strategic resources as the Company moves further to meet customers at their critical points of need.»
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