Arbor Investments, Chicago, has completed the sale of its Fund II portfolio company, Gold Standard Baking, to Tricor Pacific Capital Inc., Lake Forest, IL. Based in Chicago, Gold Standard manufactures frozen laminated dough products sold through grocery retailers, foodservice distributors, quick-serve restaurant chains, commissaries and convenience stores throughout North America. Terms of the sale were not disclosed
Gold Standard’s roots start in 2001, when Yianny and George Caparos acquired the small bakery from East Balt Commissary and grew the business into a strong regional bakery. In 2008, Arbor Investments acquired a controlling interest in Gold Standard and invested $40 million in equipment and facilities that transformed the company into the largest manufacturer of high-quality specialty croissants and strip Danish products in the United States.