Nothing Bundt Cakes (NBC) has expanded its corporate bakery footprint with the acquisition of six NBC franchisee bakeries in the San Diego market. Financial terms of the transaction were not disclosed.
A portfolio company of Los Angeles-based private equity firm Levine Leichtman Capital Partners (LLCP), Nothing Bundt Cakes is a franchisor and operator of gourmet bakeries offering specialty Bundt cakes and related merchandise. NBC has more than 320 locations in the United States and Canada.
“We are thrilled to add these San Diego bakeries to our company-owned portfolio that includes locations in Dallas, Texas, and Baton Rouge, Louisiana,” says Kyle Smith, chief executive officer of Nothing Bundt Cakes “We believe that this acquisition provides us a great opportunity to improve our overall support to our bakery owners, while providing an extraordinary experience to our guests.”
LLCP says the San Diego bakeries are expected to eventually become the NBC training base on the West coast. They also will serve as additional outlets for research and development and product innovation, the private equity firm notes.
“This acquisition demonstrates our continued support of the NBC investment,” says Matthew Frankel, a partner at LLCP. “We remain focused on building value for the benefit of NBC’s bakery owners, guests, employees, and investors. We are excited to take part in the next chapter of growth for the San Diego bakeries.”
Nothing Bundt Cakes was founded in Las Vegas in 1997 by Debbie Schwetz and Dena Tripp. The company offers Bundt cakes in a variety of sizes and flavors.