Levine Leichtman Capital divests Nothing Bundt Cakes to Roark Capital
US-based private equity firm Levine Leichtman Capital Partners (LLCP) has divested its portfolio company NBC Holdings (Nothing Bundt Cakes) to Roark Capital for an undisclosed price.
Nothing Bundt Cakes is a franchisor and operator of gourmet bakeries, which provides specialty Bundt cakes and retail gift items.
Its products are said to be handcrafted and are daily baked on-site.
Kyle Smith – President and CEO of Nothing Bundt Cakes said: “Today marks an important milestone for the Company, and we would like to thank LLCP for their close relationship with our team and for their valuable contributions and strategic insight over the years.
“LLCP’s deep expertise in franchising combined with their management-centric approach made for the perfect partner in scaling our business and further developing our one-of-a-kind brand.”
Levine Leichtman Capital divests Nothing Bundt Cakes to Roark Capital. Photo courtesy of Constanze Riechert-Kurtze from Pixabay.
Presently, Nothing Bundt Cakes has around 400 locations in the US and also Canada. Founded in 1997, the gourmet bakery firm is based in Addison, Texas.
Matthew Frankel – Managing Partner of Leichtman Capital Partners said: “Kyle Smith and the entire Nothing Bundt Cakes team have built a truly unique business that is positioned for continued growth, with an incredible culture built around great people. The Nothing Bundt Cakes investment has been very successful for LLCP, with exceptional same-store sales growth and robust franchise development.
“This was driven by the efforts of the Company’s management team along with value creation initiatives, including technological enhancements, menu innovation, supply chain improvements, and the introduction of corporate stores through both strategic M&A and de novo openings.”