Pico Rivera, July 17, 2017 – CSM Bakery Solutions has announced today the sale of BakeMark to Pamplona Capital Management, an investment firm based in London, with offices in New York and Boston.
William Pruellage, a Partner at Pamplona, expressed his confidence in BakeMark’s future.
"BakeMark is a market-leading specialty distribution platform serving as the premier bakery ingredient supplier in North America,” he said. “We believe BakeMark is well positioned to succeed as a stand-alone entity and capitalize on new growth opportunities. We look forward to supporting Jim Parker, the President and CEO of BakeMark, and the rest of the Company’s exceptional management team to build on its long history of providing trusted and valuable service to the food industry.”
Jim Parker, commenting on the sale, expressed similar optimism.
"We are excited to be partnering with Pamplona for the next stage of BakeMark’s growth,” he said. “As an independent company with the support of Pamplona, BakeMark is ideally positioned to continue providing customers with quality products and full-service distribution capabilities.”
Terms of the deal, which was facilitated by Harris Williams & Co., an M&A advisory firm, were not disclosed. Sullivan & Cromwell LLP provided legal counsel to CSM.
The BakeMark investment is being made from Pamplona's fifth private equity fund, Pamplona Capital Partners V, L.P., a $3.4 billion investment vehicle raised in 2017. Barclays is serving as Pamplona's financial advisor. Pamplona received legal advice from Goodwin Procter LLP. Committed debt financing for the transaction has been provided by the Senior Direct Lending Program, a joint venture between Ares Capital Corporation and Varagon Capital Partners, and Northwestern Mutual Capital.
About Pamplona Capital Management
Pamplona Capital Management is a New York, Boston and London-based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds, and single-manager hedge fund investments. Pamplona manages $15 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Please see www.pamplonafunds.com for further information.
Based in Pico Rivera, CA, BakeMark is a recognized market leader in the baking industry, as a manufacturer and distributor of bakery ingredients, products and supplies. BakeMark serves North America and customers internationally across all industry channels with its comprehensive product portfolio, including bakery mixes, fillings, icings, glazes, commodities, frozen products and bakery supplies. BakeMark is the exclusive distributor of some of the industry’s top brands, including Westco, BakeSense, BakeQwik, Trigal Dorado, C’est Vivant and Sprinkelina, operating through 3 manufacturing plants and 25 distribution centers located across North America. Please visit www.yourbakemark.com for more information.
For more information, please contact:
Temple Bar Advisory (PR advisory to Pamplona)
+44 (0)7738 724 630
Director of Marketing (BakeMark)