DecoPac acquired by private equity firm
DecoPac, the preeminient supplier and marketer of decorating solutions for bakeries and cake decorators in North America and Europe, announced today that it is being acquired by private equity firm Snow Phipps Group, LLC.
The move will allow for growth recapitalization for DecoPac, providing greater opportunity to expand in the bakery and cake decorating markets.
DecoPac's CEO, Michael McGlynn, will be named non-executive Co-Chairman of the Board as part of the transaction. Meanwhile, DecoPac's current President, John Anderson, will be promoted to CEO.
“The McGlynn family has been in the bakery business for nearly 100 years starting from our origins as a retail bakery in Minneapolis, Minnesota. The decision to partner with a private equity firm is one that our family members took very seriously,” says Michael McGlynn. “We are confident that Snow Phipps is the right partner for us given their consumer investing experience and its many resources available to bolster DecoPac’s continued growth. We look forward to a successful partnership with Snow Phipps and I and several of my family members are excited to remain significant shareholders in the business.”
Snow Phipps Operating Partner Peter Shea will be named as the other non-executive Co-Chairman of the Board.
“The McGlynn family has done an outstanding job providing best-in-class supply chain service and solutions for bakery operators. We are excited to participate in the next phase of the Company’s development,” says Peter Shea.
With the transition, DecoPac will look to continue its role as a leading direct-to-store distributor, technology, and supply chain solutions provider for bakeries, professional cake decorators, and baking enthusiasts.