Bantam Bagels has been sold to Lancaster Colony
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Bantam Bagels, LLC (“Bantam Bagels” or the “Company”) has been acquired by T. Marzetti Company, a wholly owned subsidiary of Lancaster Colony Corporation (Nasdaq:LANC), a manufacturer and marketer of specialty food products for the retail and foodservice markets.
Bantam Bagels, a New York City based, entrepreneur-founded company is noted for reinventing the bagel, appearing on Shark Tank and explosively growing from one small shop in New York City’s West Village to nationwide distribution in traditional grocery, club stores, e-commerce and foodservice. Notably, in the foodservice channel, Bantam Bagels® are available at Starbucks® cafes nationwide. While maintaining authenticity and a feeling of Saturday-morning coziness in all products they create, Bantam Bagels reinvents iconic foods, bringing innovation, portability and convenience to the frozen breakfast category. The Company’s mini stuffed bagels, pancakes and Egg Bites are a great-tasting, on-the-go breakfast that is guilt-free, with only 100 calories each. Husband and wife Nick and Elyse Oleksak founded Bantam Bagels in 2013 and will continue to lead the business post-closing with the same entrepreneurial drive, hustle and heart they have demonstrated since day one.
Elyse Oleksak, Co-Founder, commented, “Lincoln did an incredible job for us. What set them apart was their willingness to understand the nuances of our business, brand, and team in order to find the right home for Bantam Bagels.”
Nick Oleksak, Co-Founder, added, “Being a banker is so much more than just numbers — Aaron and his team took genuine interest in our product and overall brand values, helping us uncover the right path for our business and coaching us along the way. They helped us find the perfect partner who could both nurture our business and facilitate explosive growth, while preserving the authenticity and personality that makes both our product and brand unique.”
Lincoln acted as the exclusive investment banking advisor to Bantam Bagels, working closely with the Company’s management team throughout the process. This included providing advisory expertise and managing the preparation, marketing, due diligence and negotiation phases of the transaction.
The sale of Bantam Bagels continues Lincoln’s strong momentum in the high-growth, branded food sector.
About Bantam Bagels
Bantam Bagels, based in New York, was founded in 2013 by Nick and Elyse Oleksak and is a producer and marketer of frozen mini stuffed bagels, pancakes and Egg Bites for the retail and foodservice channels. While maintaining authenticity, Bantam Bagels reinvents iconic foods, bringing innovation, portability and convenience to the frozen breakfast category.
About Lancaster Colony
Lancaster Colony Corporation is an Ohio-based manufacturer and marketer of specialty food products for the retail and foodservice markets.
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