The Inspire Brands and Focus Brands majority investor has acquired the 390-unit bundt cake bakery
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Joanna Fantozzi
Atlanta-based private equity firm Roark Capital — majority investors of Inspire Brands (Dunkin’, Arby’s, Sonic Drive-In) and Focus Brands (Auntie Anne’s, Jamba, Cinnabon) — announced Friday the acquisition of Addison, Texas-based, 390-unit bakery chain, Nothing Bundt Cakes from Levine Leichtman Capital Partners.
Nothing Bundt Cakes was founded in 1997 and specializes in bundt cakes and generates $470 million of system sales across the U.S. and Canada. The brand is now positioned for continued growth in existing and new markets.
“Roark is a best-in-class partner that shares our values of transparency and excellence and has deep expertise with its incredible portfolio of brands,” Nothing Bundt Cakes CEO Kyle Smith said in a statement. “We look forward to working with them to enhance support for our bakery owners and continue growing our system while maintaining the joy-giving experience our brand has offered guests for nearly 25 years.
The acquisition represents Roark’s 29th restaurant investment and 92nd franchise/multi-location brand.
“Nothing Bundt Cakes is a special brand with delicious products that are beloved by guests,” Clay Harmon, managing director of Roark said in a statement. “We have great admiration for what Kyle and his team have accomplished and are excited to partner with them.”
North Point served as the lead financial advisor, with support from Baird, and Honigman LLP served as legal counsel to Nothing Bundt Cakes in connection with the sale.
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