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Mergers & Acquisitions

Roark Buys Nothing Bundt Cakes

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Published: May 25th, 2021
The private equity firm acquires the gourmet bakeries franchisor and operator for an undisclosed amount from Levine Leichtman.

Private equity firm Roark Capital Group on May 14 acquired bakery franchisor Nothing Bundt Cakes Franchising LLC from Levine Leichtman Capital Partners LLC for an undisclosed amount.

Founded in 1997, Dallas-based Nothing Bundt Cakes, which franchises and operates bakeries serving specialty desserts, has 390 locations in the U.S. and Canada and has about $470 million in sales. Levine Leichtman acquired the company for an undisclosed sum as part of a management buyout in 2016.

The buyer, meanwhile, owns restaurants and franchisors such as Arby’s, Buffalo Wild Wings, Dunkin’ Donuts and Baskin Robbins. The firm typically invests $50 million to more than $1 billion in equity in companies with $20 million to more than $5 billion in revenue and $10 million to more than $500 million in Ebitda, according to its website.

Nothing Bundt Cakes marks Roark Capital’s 29th restaurant investment and 92nd franchise or multilocation brand.

—David Marcus and Steve Gelsi contributed to this report

Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

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