Waukesha-based food manufacturer Legacy Bakehouse has been acquired by Chicago-based private equity firm Benford Capital Partners. Terms of the deal were not disclosed.
Peter Sardina, Legacy Bakehouse president, will continue leading the company after the acquisition.
Founded in 1917, Legacy Bakehouse develops and manufactures baked snack ingredients including bagel chips, rye chips, pita chips, and other ingredients for leading consumer packaged goods and retail customers. Legacy Bakehouse is also the brand owner and manufacturer of Pinahs Rye Chips and Snack Mixes.
The company has decades of experience in creating B2B and private label baked snack products for leading food brands, retailers, and food service companies.
“We are excited to partner with Benford Capital in our next phase of growth,” said Sardina. “Our team looks forward to working together to grow with our existing customers, expand our production footprint, and remain committed to exceptional customer service.”
Benford Capital and Legacy Bakehouse plan to invest in enhanced operational capacity and sales capabilities to drive organic growth. Benford Capital and management plan to actively pursue add-on acquisitions of other snack component developers and manufacturers.
“Legacy Bakehouse is a great company with a rich history and successful track record,” said Ben Riefe,managing director of Benford Capital. “Peter Sardina and the Legacy team have firmly established the company as a leader in baked snack components, and we look forward to executing our value creation plan together.”
Legacy Bakehouse leadership did not immediately respond to a further request for comment on the sale.
Milwaukee-based investment bank TKO Milleradvised Legacy Bakehouse on its sale to Benford Capitol.