Rubicon Bakers (“Rubicon”), a portfolio company of Trive Capital (“Trive”), has acquired Just Desserts (“Just Desserts” or the “Company”). Founded in 1974 and headquartered in Fairfield, California, Just Desserts is a manufacturer of high-quality and on-trend baked goods. The Company’s products can be found in grocery stores nationwide.
The combination of Just Desserts with Rubicon creates a bakery platform with a broader product offering and customer base and positions the combined business as a market leader focused on providing innovative products, best-in-class customer service, and efficient manufacturing capabilities to serve customers on both a regional and national scale.
“We are excited to add the Just Desserts brand and products to our portfolio. Just Desserts and Rubicon share in the focus and passion to deliver high quality and innovative products and we couldn’t be more thrilled to scale our footprint to a multi-facility platform so that we can continue to serve customers nationwide,” stated Rubicon founders Leslie Crary and Andrew Stoloff. “Additionally, the combination with Just Desserts, located just down the road from us, provides exciting career opportunities and flexibility for our employees as the business grows.”
“I am very pleased to transition stewardship of Just Desserts to Andrew, Leslie, and Trive Capital” remarked Michael Mendes, former managing partner and CEO of Just Desserts. “The strategic combination of these two premium bakeries will expand the reach of our products across the country and create exciting opportunities for the talented combined employee base.”
Chris Zugaro, partner at Trive, added, “We have thoroughly enjoyed our partnership with the Rubicon team and are excited to add a complementary, premium brand that provides additional operational flexibility. The acquisition of Just Desserts represents a key milestone for Rubicon and positions the businesses to continue providing innovative solutions for their in-store bakery customers at greater scale.”
Cody Peak Advisors acted as sole financial advisor to Rubicon and Trive and Moelis & Company LLC acted as financial advisor to Just Desserts.