DALLAS — Surge Private Equity and The Firmament Group have closed on an investment into Global Bakeries, Inc. Surge finalized the transaction with a $15 million financing facility and a portion of equity financing from Firmament.
Based in Pacoima, Calif., Global Bakeries creates non-G.M.O. and organic bread products such as pita bread, pita chips, bagels, flatbread and croissants for grocery stores, bakeries, restaurants and private label customers. The company was established in 1977 by Albert Boyajian and currently has more than 150 employees working onsite.
Mr. Boyajian will retain equity in the bakery and serve on the board of directors alongside Tom Beauchamp, partner, Surge, Lewis Sharp, partner, Surge, and Lauren Steel, vice-president, Firmament.
“With 11-year weighted average customer tenure and dozens of different high-quality innovative and branded products, we see huge potential in Global Bakeries,” Mr. Beauchamp said. “We are eager to assist in taking Global Bakeries to the next level by continuing to expand our offerings into organic and gluten-free.”