Nothing Bundt Cakes Acquires Six San Diego Franchisee Bakeries

Nothing Bundt Cakes Sells Nine San Diego Bakeries to FS Investors

May 6, 2025

Restaurants & Hospitality

Nothing Bundt Cakes sold nine company-owned bakeries in the San Diego market to FS Investors, which also signed a development agreement to build 16 additional bakeries in the region. The transaction is part of Nothing Bundt Cakes' strategy to accelerate regional expansion and leverage local operators to scale presence in a high-growth market.

Roark Capital Acquires Nothing Bundt Cakes from Levine Leichtman Capital Partners

May 14, 2021

Food & Beverage

Roark Capital, via an affiliate, has acquired Nothing Bundt Cakes from Levine Leichtman Capital Partners. Nothing Bundt Cakes is a franchisor and operator of gourmet bundt cake bakeries with roughly 390 locations and about $470 million in system sales; Roark said it will support continued franchise growth and operational support for bakery owners.

Cotton Creek Capital Acquires Ne-Mo's Bakery

October 29, 2025

Food & Beverage

Cotton Creek Capital has made a strategic investment to acquire Ne-Mo's Bakery, a San Diego–based producer of individually wrapped cakes and baked goods. The investment is intended to accelerate growth through expanded manufacturing capacity, product innovation, and commercial investment to broaden the company's retail and convenience-store distribution.

San Francisco Equity Partners Acquires Majority Stake in Rustic Bakery

December 21, 2021

Food & Beverage

San Francisco Equity Partners (SFEP) has acquired a majority stake in Rustic Bakery, a Petaluma, California-based specialty foods and cracker manufacturer; terms were not disclosed. Northstar Capital provided junior capital as a co-investor to help finance the transaction; SFEP said it will work with management to expand the brand's product portfolio, distribution and customer base.

Private Investor Acquires Icing on the Cake

April 19, 2024

Food & Beverage

Generational Group advised Icing on the Cake, an ultra-premium retail dessert bakery in Los Gatos, California, on its sale to a private investor. The transaction closed April 19, 2024 and transfers ownership from founder Lynn after nearly 40 years, with the buyer (unnamed) expected to continue the bakery's traditions and local presence.

New Water Capital Acquires Klosterman Baking Company

July 27, 2022

Food & Beverage

An affiliate of New Water Capital Partners II L.P. has acquired Klosterman Baking Company, a long-standing producer of fresh and frozen baked goods serving grocers, restaurants and institutional customers. New Water said it will partner with management to expand Klosterman's product portfolio and geographic distribution footprint through organic and inorganic growth initiatives.