Shipley Do-Nuts Acquired by Levine Leichtman Capital Partners
Deal News | Jul 28, 2025 | Levine Leichtman Capital Partn
Levine Leichtman Capital Partners, a middle-market private equity firm, has acquired Shipley Do-Nuts, in collaboration with the company's management. Shipley Do-Nuts is the largest donut and kolache brand in the United States, with over 375 locations. Although the financial terms were not disclosed, the acquisition marks LLCP's fourth platform investment as part of their focus on the franchising industry. Under CEO Flynn Dekker's continued leadership, Shipley aims to leverage LLCP's franchise experience for accelerated growth and expansion. Kirkland & Ellis LLP and DLA Piper served as legal counsel, while North Point and J.P. Morgan advised Shipley.
Sectors
- Food and Beverage
- Private Equity
- Franchising
Geography
- United States – Shipley Do-Nuts is based in Houston, Texas, and operates across 14 states in the U.S.
- Texas – Shipley Do-Nuts is headquartered in Houston, Texas, which is the focal region of its operations.
Industry
- Food and Beverage – Shipley Do-Nuts is a well-known brand in the bakery segment, producing donuts and kolaches.
- Private Equity – Levine Leichtman Capital Partners is a private equity firm specializing in investments, including in the franchising industry.
- Franchising – Shipley Do-Nuts operates over 375 franchise locations across various states within the U.S.
Financials
- Not disclosed – The financial terms of the acquisition of Shipley Do-Nuts by Levine Leichtman Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Shipley Do-Nuts | Target Company | Company | The nation's largest donut and kolache brand with over 375 locations. |
| Levine Leichtman Capital Partners | Bidding Company / Buyer | Company | A middle-market private equity firm that has acquired Shipley Do-Nuts. |
| Peak Rock Capital | Selling Company / Vendor | Company | The previous owner of Shipley Do-Nuts before the acquisition by Levine Leichtman Capital Partners. |
| Flynn Dekker | CEO | Person | CEO of Shipley Do-Nuts, who continues to lead the company post-acquisition. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal counsel to Levine Leichtman Capital Partners for the transaction. |
| DLA Piper | Legal Advisor | Company | Provided legal counsel to Levine Leichtman Capital Partners for the transaction. |
| North Point | Advisor | Company | Advised Shipley Do-Nuts on the transaction. |
| J.P. Morgan | Advisor | Company | Advised Shipley Do-Nuts on the transaction. |