CraftMark Bakery to Join One Equity Partners' Portfolio
Deal News | Mar 25, 2025 | One Equity Partners
One Equity Partners (OEP) has announced an agreement to acquire CraftMark Bakery, a key player in the wholesale bakery sector based in Indianapolis. CraftMark, with its highly automated facilities and extensive production capacity, provides bakery products like bread dough, cookie dough, and muffins for quick-service restaurants and retail bakeries. This acquisition enables OEP to leverage its experience in the fragmented North American frozen bakery market, thereby tapping into both the foodservice and in-store bakery segments which exhibit high growth potential. The CraftMark management team, led by CEO Kurt Seagrist, expresses optimism about the collaboration with OEP to pursue strategic M&A and organic growth avenues. The transaction, expected to conclude in Q2 2025, will be supported by financial, legal, and tax advisors including Kirkland & Ellis LLP and KPMG LLP. Harris Williams served as financial advisor to CraftMark, and Steel City Private Credit, a collaboration between PNC Financial Services and The TCW Group, is facilitating the debt financing. While financial terms remain undisclosed, the deal exemplifies OEP’s strategy of identifying transformative opportunities to enhance its market presence in lucrative sectors.
Sectors
- Private Equity
- Bakery and Foodservice
- Financial Advisory
Geography
- United States – CraftMark Bakery is based in Indianapolis, Indiana, and One Equity Partners operates primarily in North America and Europe.
Industry
- Private Equity – The article discusses a transaction involving the acquisition of CraftMark Bakery by One Equity Partners, a private equity firm.
- Bakery and Foodservice – CraftMark Bakery is a supplier of bakery products for quick-service restaurants and in-store retail bakeries, acting within the Bakery and Foodservice sector.
- Financial Advisory – Various financial and legal advisors, including KPMG LLP and Kirkland & Ellis LLP, participated in facilitating the transaction.
Financials
- Not disclosed – Financial terms of the private transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| One Equity Partners | Acquirer | Company | A middle market private equity firm focusing on industrial, healthcare, and technology sectors. |
| CraftMark Bakery | Target Company | Company | A wholesale bakery located in Indianapolis, known for its private label bakery products. |
| Kurt Seagrist | CEO of CraftMark Bakery | Person | CEO of CraftMark Bakery, overseeing the company’s growth and operations. |
| Joseph Huffsmith | Partner at One Equity Partners | Person | Partner at OEP highlighting the strategic acquisition of CraftMark Bakery. |
| Haley Citrome | Vice President, One Equity Partners | Person | VP at OEP discussing the strategic growth plans for CraftMark post-acquisition. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Legal counsel for One Equity Partners in the transaction. |
| KPMG LLP | Accounting and Tax Advisor | Company | Provided accounting and tax advisory services for One Equity Partners. |
| Steel City Private Credit | Debt Financing Provider | Company | A lending strategy from PNC Financial Services and The TCW Group providing debt financing for the transaction. |
| Harris Williams | Financial Advisor | Company | Financial advisor to CraftMark for this transaction. |