Stellex Capital Management has acquired J. Skinner Baking

J. Skinner Baking

J. Skinner Baking is a premier manufacturer of artisan baked goods, including danishes, muffins, cinnamon rolls, brownies and bars. Headquartered in Omaha, Nebraska, J. Skinner provides ready-to-eat baked goods through grocery in-store bakeries (ISB), foodservice providers and co-pack partnerships. Since its founding in 1983, the company has grown into one of the largest ISB providers in the U.S., selling its products in more than 30,000 retail locations across all 50 states.

The Deal

Lincoln International acted as the exclusive financial advisor to Stellex Capital Management, working closely with the investment team to assist with value creation planning, in addition to providing valuation guidance, due diligence assistance, lender financing and negotiation support. Stellex’s partnership with J. Skinner will support investments in production capacity expansion, increased automation and new product development.

Our Perspective

Jeff Cleveland, Managing Director and Co-Head of Lincoln’s Food & Agribusiness group, commented, “We are thrilled to have had the opportunity to leverage our deep experience within baked goods to advise the Stellex team on its partnership with J. Skinner. We look forward to following the company’s continued success as it executes upon its long-term growth plan.” Matt Ayanian, a Director within Lincoln’s Food & Agribusiness group, added, “As a leader within multiple ISB segments, J. Skinner is at the forefront of an exciting category. With the support of the Stellex team, the company is well positioned to capture share within one of the fastest growing, highest margin grocery segments.”

Christine Tiseo, Managing Director and Co-Head of Lincoln International’s Capital Advisory Group, commented, “Lincoln is honored to have been able to partner with Stellex and support their vision for J. Skinner. We congratulate the entire team on the completion of this transaction and look forward to the continued growth and success of the business.”

Stellex Capital Management

Stellex is a New York-based private equity firm that seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Sectors of particular focus include aerospace, defense and government services, transportation and logistics, manufacturing, real economy and business services, food processing and tech-enabled services.

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