Dessert Holdings Acquires Kenny’s Great Pies
May 15 2024 - 1:00PM
Business Wire
Complementary Acquisition Expands Dessert
Holdings’ Product Offerings
Dessert Holdings®, North America’s premium dessert company,
today announced that it has acquired Kenny’s Great Pies (“Kenny’s”
or “the Company”), a premier manufacturer of high quality, clean
label, cream-based pies from Kaho Partners. The acquisition will
complement Dessert Holdings’ existing platform of premium dessert
brands serving retail and food service customers. Kenny’s will
continue to operate under its current management team led by Gary
Muter. Financial terms of the transaction were not disclosed.
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Established in 1989, Kenny’s signature product is its Key lime
pie made with 100% pure, freshly squeezed, authentic Key limes.
With humble beginnings in a one-bedroom apartment, Kenny’s has
expanded its product set and today sells millions of branded and
private label pies through diverse channels. The Company operates
out of a state of the art, purpose-built facility with newly
installed automated mixing and filling lines in Smyrna,
Georgia.
“Kenny’s clean label, flavorful pies are complementary to our
portfolio of premium desserts,” said Paul Lapadat, Chief Executive
Officer of Dessert Holdings. “Kenny’s has established a distinctive
market position, fostering a number of long-standing relationships
with leading foodservice and retail operators, and major clubs in
North America, earning a loyal consumer following. Dessert Holdings
is excited to supplement these relationships and expand the
Company’s distribution network.”
Dessert Holdings’ varied portfolio of premium dessert brands
includes Steven Charles, The Original Cakerie, Lawler’s, Atlanta
Cheesecake Company, and Dianne’s Fine Desserts.
“We are excited to become a part of a leading premium desserts
platform in North America, and we believe Dessert Holdings’
experience and complementary product portfolio provides specialist
expertise to help us accelerate our growth,” said Muter. “We see an
incredible opportunity to further promote Kenny’s all natural
differentiated product offerings and signature Key lime pie that
will pull consumers to store bakeries.”
“Since our initial investment in Dessert Holdings, the business
has grown tremendously,” said Adam Nebesar, a Partner at Bain
Capital, which acquired Dessert Holdings in June 2021. “We are very
pleased with the Desserts Holdings performance to date and look
forward to partnering with Gary and the Kenny’s team to support
their growth ambitions.”
PwC served as accounting advisor, and Ropes & Gray LLP as
legal advisor to Dessert Holdings. Integris Partners served as
financial advisor, and Holland & Knight served as legal advisor
to Kenny’s Great Pies.
About Dessert Holdings
Dessert Holdings® is North America’s premium dessert company,
recognized for providing our retail and foodservice customers with
chef-inspired innovative desserts made with real ingredients, a
flexible supply chain, and best-in-class service. Based in St.
Paul, Minnesota, Dessert Holdings is an umbrella organization of
five premium dessert brands: Steven Charles, The Original Cakerie,
Lawler’s Desserts, Atlanta Cheesecake Company, Dianne’s Fine
Desserts, and Kenny’s Great Pies. Together, the companies serve
more than 250 customers in the United States, Canada, Mexico, the
Caribbean, South America and Asia.
About Kenny’s Great Pies
Established in 1989 by Kenny Burts, Kenny’s Great Pies is the
premier manufacturer of premium, cream-based, clean label pies. The
Company’s signature product is its Key lime pie, which is made with
100% pure, freshly squeezed, authentic Key limes. Kenny’s Great
Pies has leveraged the popularity of its Key lime pie to extend
into other flavors such as lemon, mango, coconut cream, peanut
butter, and chocolate silk.
About Bain Capital
Bain Capital, LP is one of the world’s leading private
multi-asset alternative investment firms that creates lasting
impact for our investors, teams, businesses, and the communities in
which we live. Since our founding in 1984, we’ve applied our
insight and experience to organically expand into numerous asset
classes including private equity, credit, public equity, venture
capital, real estate, life sciences, insurance, and other strategic
areas of focus. The firm has offices on four continents, more than
1,750 employees and approximately $185 billion in assets under
management. To learn more, visit www.baincapital.com.
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