Arbor Investments, a private equity firm in Chicago, has acquired the New French Bakery Inc., a Minneapolis-based company that bakes and markets a comprehensive offering of premium branded and private-label take-and-bake, par-baked and fresh artisan breads.
Arbor Investments partnered with management, led by the New French Bakery’s vice president of sales, Jeff Getzkin, and Michael Schultz, a long-term baking industry veteran, in its acquisition of the company. Terms of the sale were withheld.
“We were drawn to New French Bakery due to the company’s superior quality products and reputation in the baking industry,” says Brody Lynn of Arbor Investments. “The company has thrived under the ownership of Peter Kelsey, who was recently named Minnesota’s Small Business Person of the Year, and we are thrilled to be acquiring a business as it enters its next phase of growth.”
“Arbor’s extensive experience in the food industry made them a perfect partner for New French Bakery, our management team, employees and customers,” says Kelsey. “I’m very proud of what we have accomplished at New French and look forward to Arbor, with its resources and capital, building upon the foundation we have laid over the last 18 years.”
The bakery will continue to operate out of its existing facilities.