Bake-Rite International, Schenectady, N.Y., and its strategic partner, Horizon Bradco, will merge under the name Horizon Bradco in 2014 to better support the baking, commercial and industrial food industries with processing equipment and services. The new company also has drawn major capital from investment firm Hamilton Robinson Capital Partners.
Along with the merger and investment, the company has named Mark Panozzo CEO. Panozzo and current managing partners, Brian and Kathy Donovan and Frank Corvino, will expand the company’s footprint into new markets to fuel regional and national growth. Under the current management team and employees, the companies have experienced high growth over the last five years, from $8 million to more than $20 million, with more than 100 employees operating in 17 states along the East Coast and Southeast.