Sunbelt Business Advisors President Chris Jones has announced that Sunbelt facilitated the sale of Franklin Street Bakery of Minneapolis to Taylor, Michigan-based Michigan Bread. Led by Mergers & Acquisitions Advisors Kirill Graminschi and Dan Mulvaney, the Sunbelt team initiated, structured, and negotiated the transaction. The deal closed on September 1, 2021.
The previous owners of Franklin Street Bakery started operations in the kitchen of one of their restaurants and officially launched the business in 1994. Approximately 125 people worked at Franklin Street Bakery before the sale, and all have been retained in the transaction. They join 175 employees of Michigan Bread, which has been in business since 1973. The combined organization will be rebranded as The Good Bread Company. Pat Siebenaler, who has been at Franklin Street Bakery since 2006 and currently serves as director of operations, will oversee the Minnesota facility.