Shore Capital Partners LLC portfolio company Sweetmore Bakeries on Tuesday, Aug. 25, said it’s acquired Fantasy Baking Co., a private-label and branded sweet baked goods manufacturer.
Chicago-headquartered Sweetmore didn’t disclose the financial details of the transaction.
The Deal last June reported Encore Consumer Capital has retained Alantra Partners SA to run an auction for Fantasy Baking, also called Fantasy Cookie Co. The platform has around $15 million in Ebitda, The Deal reported.
Founded in 1979, Sylmar, Calif.-headquartered Fantasy Baking specializes in creating private-label and branded cookies, baked bars and specialty sweet items. The company supplies retail in-store bakeries and foodservice channels nationwide.
While it didn’t issue a statement at the time, Encore, which lists Fantasy Cookie as a manufacturing and distribution portfolio company on its website, reportedly invested in the contract manufacturer in June 2015. The firm typically invests $5 million to $50 million in companies with $10 million to $150 million in revenue.
Founded in 2019, Sweetmore produces private-label, branded and custom sweet baked goods for retail in-store bakeries and national restaurant channels.
Shore Capital last June agreed to acquire Sweetmore for an undisclosed amount.
The Fantasy Baking acquisition expands Sweetmore’s scale, strengthens its cookie and baked bar capabilities and supports its strategy to build a national premium baked goods platform. The acquisition adds Sweetmore’s sixth facility and establishes its first West Coast presence, expanding its manufacturing footprint across the Northeast, Midwest, Southeast, Southwest and West.
Chicago-based Shore typically targets lower middle market healthcare, food and beverage, business services, industrial and real estate companies. It invests in companies with revenue between $5 million and $100 million and $1 million to $10 million in Ebitda.
In October 2024, Shore raised roughly $1.9 billion across three funds, including its inaugural Healthcare Advantage Fund, Business Services Partners Fund II and Shore Search Partners Fund I.
Shore Capital last March acquired foodservice distributor Premier ProduceOne for an undisclosed amount. Sweetmore in January that year acquired Azteca Bakeries for an undisclosed amount.
Shore Capital’s OWS Foods in December 2024 acquired barbeque brand Lillie’s Q Sauces & Rubs LLC for an undisclosed amount.
Fantasy Baking tapped Alantra for financial advice and Brownstein Hyatt Farber Schreck LLP for counsel.
Sweetmore relied on DLA Piper for counsel.
