Harlan Bakeries LLC has acquired Evansville, Ind.-based AmeriQual Group Holdings, LLC, a developer, packager and distributor of shelf-stable, refrigerated or frozen foods, sauces and condiments for branded food companies, federal, state and local government agencies and a number of education and other institutions.
New York-based Turning Rock Partners provided structured equity financing to support the transaction, while existing shareholders and management also participated in the new round of capital.
“The existing management of AmeriQual, led by President Dennis Straub and the team, has built an exceptional business,” says Louis Mayer, vice president at Turning Rock Partners. “Harlan Bakeries has decades of expertise in this area and a commitment to scaling the business. Turning Rock recognized the synergies between the two firms and their commitment to quality, safety and their communities. We are delighted to partner with both firms on this transaction.”
Founded in 1991 by brothers Hugh and Doug Harlan, Harlan Bakeries, LLC is an international wholesale supplier and distributor of products for in-store bakeries, private label baked foods and manufacturer of Harlan Bigger Better Bagels, Harlan Giant Gourmet Bagels, Harvest’s Best and Nature’s Grain brands. Harlan supplies customers with bagels, pies, cakes, cookies, muffins and bread. In addition, Harlan is a contract manufacturer. Harlan operates seven production facilities located in Avon, Ind.; Indianapolis; Madison, Wis.; Denver; Hope, Ark.; Kentville, NS; and Edmonton, Alta.
“I am excited for the opportunity to work with all of our employees to vertically integrate both businesses and to ensure continued growth and success for both companies,” Hugh Harlan says.
Straub adds, “The AmeriQual team is excited to be partnering with Harlan Bakeries as we move toward the next phase of our company’s growth. We believe that there are multiple growth opportunities with this combination and that our company cultures are very similar. We are excited about our future.”
