Arbor Investments (“Arbor”), a specialized private equity firm focused on acquiring companies in food, beverage and related industries, today announced its acquisition of Furlani Foods (“Furlani” or the “Company”), one of North America’s largest manufacturers of frozen and ambient garlic bread products. The investment expands Arbor’s footprint in the growing specialty bakery sector and represents the third platform investment for Arbor Investments VI. Terms of the transaction were not disclosed.
Operating state-of-the-art facilities in Oak Creek, Wisconsin, North Liberty, Iowa, and Mississauga, Ontario, Canada, Furlani produces a broad range of superior, homemade-quality specialty breads, including garlic Texas toast, cheese bread, breadsticks, and garlic knots. Products are sold to consumers under the Furlani® and Cole’s® brands, as well as through leading grocery retailer private-label programs.
Arbor’s investment in Furlani builds on the firm’s longstanding commitment to the baking sector. To date, Arbor has invested in 19 baking businesses and has maintained a baking platform in each of its investment funds, including Golden Waffles (Fund V), Crown Bakeries (Fund IV), Rise Baking (Fund III), Gold Standard Baking (Fund II), and Great Kitchens (Fund I).
“From tortillas and croissants to waffles and pastries, I’ve always had a soft spot for baking businesses,” said Greg Purcell, Co-Founder and CEO of Arbor Investments. “Our philosophy is to invest in taste and value, and Furlani hits the mark on both. Add in our team’s deep expertise in baking, and I’m confident we can accelerate growth and win new customers and channels.”
Furlani CEO Jonathan Kawaja and the Company’s senior leadership team will continue in their current roles leading the business.
“Jonathan and the Furlani team have established themselves as leaders in the specialty garlic bread category by making significant investments in capacity and innovation over the years,” said John Jordan, President at Arbor. “The Company’s next phase of expansion will require more of the same – continued investment in growth CapEx and compelling innovation to meet the needs of their customers. This aligns seamlessly with Arbor’s playbook, and we look forward to partnering on this next chapter together.”
“Throughout the process, it became clear Arbor would be an excellent fit for Furlani,” added Kawaja. “Arbor’s know-how and resources in the baking industry, combined with a shared vision positions us well to continue serving our customers and consumers at the highest level.”
Winston & Strawn served as Arbor’s legal counsel for the transaction.
