Capstone Partners served as a financial advisor to Tate’s Bake Shop, a portfolio company of The Riverside Company, in its sale to global snacks company Mondelēz International, Inc. (NASDAQ:MDLZ) for approximately $500 million.
Tate’s is a fast growing, premium cookie and baked goods brand renowned nationwide for its signature thin, crispy cookies and simple, authentic, high-quality ingredients.
Over the past five years, Tate’s has doubled its brand awareness and achieved a 4x increase in sales and earnings by deepening existing customer relationships, expanding distribution, boosting its national sales and marketing team, launching new products and significantly expanding and improving production processes.
Mondelēz International (whose brands include Oreo cookies, Cadbury Dairy Milk chocolate, Milka chocolate and Trident gum) will operate Tate’s as a separate, standalone business to nurture its entrepreneurial spirit and maintain the authenticity of the brand while providing resources to accelerate growth.
Capstone Partners previously advised Tate’s Bake Shop, and founder Kathleen King, in its 2014 recapitalization with The Riverside Company, a global private equity firm with more than $7 billion of assets under management, which has completed over 520 transactions.
