SAN FRANCISCO — Gryphon Investors, a middle market private equity firm based in San Francisco, has agreed to acquire Lawler Foods, a manufacturer of gourmet cheesecakes, layer cakes, pies and other desserts for retail and food service customers across North America. Financial terms of the transaction were not disclosed.
Following completion of the transaction, Lawler Foods will become part of the same premium dessert platform as The Original Cakerie, which Gryphon acquired in December 2015. The Original Cakerie makes frozen desserts for retail and food service customers across North America.
Based in Humble, Texas, Lawler Foods is a family-owned business founded in 1976 by Bill and Carol Lawler. The Lawler family will retain a significant investment in the company, and the Lawler Foods management team will remain in place under the new ownership. Wes Stasny, current vice-president of sales, will be promoted to president as part of the transition.
|Keith Stimson, partner at Gryphon|
“The acquisition represents an outstanding strategic fit for Gryphon’s premium dessert platform,” said Keith Stimson, partner at Gryphon. “Lawler Foods’ long-term focus on producing best-in-class quality products is consistent with The Original Cakerie’s own commitment to quality. With little overlap in product offerings and customers between the two businesses, we are confident that the two companies will help expand our customer relationships with leading North American retailers and food service accounts.”
Mike Lawler, president of Lawler Foods, said joining Gryphon’s premium dessert platform should enable Lawler Foods to achieve a new level of success.
“We value the ability of the Gryphon operations team to help accelerate our expansion,” he said.Gryphon previously invested in such food companies as Flagstone Foods, TrustHouse Services Group and Eight O’Clock Coffee.