LOS ANGELES — Global Bakeries, L.L.C., one of the largest specialty bakeries privately owned in the western United States, has acquired Better Baking Co. Financial terms of the transaction were not disclosed.
Headquartered in Los Angeles, Better Baking manufactures fresh cookies, bread and pitas to local markets and national chains across the country. Following the transaction, Ashur “Ash” Aghasi, owner of Better Baking, will join Global Bakeries as chief operating officer.
“We are excited to partner with Ash, as Better has established itself as a manufacturer of premium bakery products in the regional L.A. market,” said Christopher Botticella, chief executive officer of Global Bakeries. “Add to that the synergies in our operational geography, it became a no-brainer to acquire such a parallel company.”
The transaction was led by Dallas-based Surge Private Equity and The Firmament Group, which invested in Global Bakeries last December.
“This acquisition greatly expands our product line, allows Global to reach new customers, and enables us to offer our existing customers higher quality service,” said Lewis Sharp, partner at Surge Private Equity. “Ash brings over 25 years of operational experience and has proven his knack for creating quality products. We are thrilled about this partnership.”
The acquisition becomes the second add-on for Global Bakeries this year. In March, the company acquired Bubbles Baking Co., a Van Nuys, Calif.-based maker of frozen cakes and delicacies. Collectively, Global Bakeries, Better Baking and Bubbles now operate within a 10-mile radius of one another in Van Nuys.
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.