GRAND RAPIDS, MICH. — Private equity firm Blackford Capital announced that it is investing an undisclosed amount in Ellison Bakery, Inc., Fort Wayne, Ind. Ellison is a manufacturer of cookie, snack bar and crunch inclusion products, and other products for the industrial market, food service industry, and retail and private label space.
“We’re excited the Ellis family decided to entrust the future of Ellison Bakery with Blackford Capital,” said Martin Stein, founder and managing director of Blackford Capital. “Ellison has established itself as a premier industrial bakery and is known for its high quality and extreme flexibility in supporting a wide range of customers.”
The transaction also marks the retirement of Rob Ellis, who stepped down as chief executive officer six years ago and remained with Ellison as the chief financial officer. Mr. Ellis' sons, Jon and Jeremy Ellis, have grown the business over the past four years and will continue to be active in the business post-transaction, the company said.
“The Ellis brothers had been looking for a financial partner that would help continue the legacy they had built with their father,” Mr. Stein said. “We’re honored to play a part in Ellison’s next chapter, and we look forward to investing in the business, the employees, and the community as we continue the story of growth at Ellison.”
Todd Wallin, president of Ellison Bakery, added, “We’re excited to benefit from the strategic experience and capital that Blackford brings and look forward to working with the entire team to execute our aggressive plans for growth. We’ve experienced steady growth the last several years under the ownership of the Ellis Family. Together with Blackford, Ellison has strategically positioned itself for continued growth by preparing to invest in new production and packaging capabilities, as well as additional R.&D. resources.”
