Capital firm completes investment in Lewis Bakeries
President H. Dean Short will continue leading the company.
Courtesy of Pexels / Marianna OLE
One Rock Capital Partners, LLC announced that one of its affiliates has completed a strategic investment in Lewis Brothers Bakeries, Inc., a third-generation, family-owned bread and baked goods manufacturer headquartered in Evansville, IN, selling its products under brands such as Lewis Bake Shop, Bunny Bread, Butternut and Healthy Life.
Founded in 1925 by three brothers, Lewis Bakeries is the largest wholesale bakery in Indiana, employing approximately 2,000 people across its five bakeries in Indiana and Tennessee. The company’s products are distributed in 17 states, predominantly in the Midwest, where Bunny Bread and Butternut are longstanding brands. The business is led by H. Dean Short, president and grandson of founding brother R. Jack Lewis, Sr. He will continue in this role following the investment from One Rock.
“Lewis Bakeries has established itself as a leading provider of baked goods that consumers enjoy every day. This is a result of the company’s consistent focus on delivering high-quality products and customer-focused innovation,” says Jack Rosenberg, partner at One Rock. “These priorities convince us that Lewis is well-positioned for further growth in new product categories and geographies.”
“Since it was founded almost 100 years ago, Lewis Bakeries has achieved impressive growth as a family-owned, regional player operating in a segment where consumers have many choices that are offered by a variety competitors—both large and small,” says Kimberly Reed, partner at One Rock. “Today, Lewis’ position as a leader in each of its key Midwestern markets is a testament to the strength of its brand, the loyalty of its customer base, and its ability to respond to customers’ evolving needs and preferences.”
“We look forward to collaborating with Dean and the broader Lewis Bakeries team to continue enhancing its market reach and operational capabilities, as well as pursuing accretive acquisitions and partnerships,” adds Jared Kawadler, principal at One Rock.
“Our founder, R. Jack Lewis, Sr., had a simple approach to business—‘Grow or Go.’ As we prepare for the future, we felt that One Rock’s experience investing in the food and beverage manufacturing industry, and its vast team of talented operating partners make the Firm the ideal partner for Lewis Bakeries as we pursue a new phase of growth,” says H. Dean Short, president of Lewis Bakeries. “One Rock’s investment is a vote of confidence in our business and the opportunities that lay ahead. The Lewis family remains invested in the company, and we look forward to working with One Rock to ensure the business will thrive for generations to come.”
Fifth Third Securities served as financial advisor to Lewis Bakeries and Kahn, Dees, Donovan & Kahn, LLP served as legal counsel to Lewis Bakeries. Latham & Watkins LLP served as legal counsel to One Rock.
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