NEW YORK — One Rock Capital Partners, LLC (“One Rock”) announced that one of its affiliates has completed a strategic investment in Lewis Brothers Bakeries, Inc. (“Lewis Bakeries” or the “Company”), a third generation, family-owned bread and baked goods manufacturer headquartered in Evansville, Indiana, selling its products under market-leading brands including Lewis Bake Shop, Bunny Bread, Butternut and Healthy Life.
Founded in 1925 by three brothers, Lewis Bakeries is the largest wholesale bakery in Indiana, employing approximately 2,000 people across its five bakeries in Indiana and Tennessee. The company’s products are distributed in 17 states, predominantly in the Midwest, where Bunny Bread and Butternut are longstanding, highly recognizable brands. The business is led by H. Dean Short, President and grandson of founding brother R. Jack Lewis, Sr. He will continue in this role following the investment from One Rock.
“Lewis Bakeries has established itself as a leading provider of baked goods that consumers enjoy every day. This is a result of the Company’s consistent focus on delivering high-quality products and customer-focused innovation,” said Jack Rosenberg, Partner at One Rock. “These priorities convince us that Lewis is well-positioned for further growth in new product categories and geographies.”
“Since it was founded almost 100 years ago, Lewis Bakeries has achieved impressive growth as a family-owned, regional player operating in a segment where consumers have many choices that are offered by a variety competitors – both large and small,” said Kimberly Reed, Partner at One Rock. “Today, Lewis’ position as a leader in each of its key Midwestern markets is a testament to the strength of its brand, the loyalty of its customer base, and its ability to respond to customers’ evolving needs and preferences.”
“We look forward to collaborating with Dean and the broader Lewis Bakeries team to continue enhancing its market reach and operational capabilities, as well as pursuing accretive acquisitions and partnerships,” added Jared Kawadler, Principal at One Rock.
“Our founder, R. Jack Lewis, Sr., had a simple approach to business – ‘Grow or Go.’ As we prepare for the future, we felt that One Rock’s experience investing in the food and beverage manufacturing industry, and its vast team of talented operating partners make the Firm the ideal partner for Lewis Bakeries as we pursue a new phase of growth,” said H. Dean Short, President of Lewis Bakeries. “One Rock’s investment is a vote of confidence in our business and the opportunities that lay ahead. The Lewis family remains invested in the Company, and we look forward to working with One Rock to ensure the business will thrive for generations to come.”
Fifth Third Securities served as financial advisor to Lewis Bakeries and Kahn, Dees, Donovan & Kahn, LLP served as legal counsel to Lewis Bakeries. Latham & Watkins LLP served as legal counsel to One Rock.
ABOUT LEWIS BAKERIES
Founded in 1925, Lewis Bakeries, Inc. is a family-owned bakery headquartered in Evansville, Indiana with bakeries in Evansville, LaPorte, Ft. Wayne, and Vincennes, Indiana and in Murfreesboro, Tennessee. Lewis Bakeries employs 2,000 people and provides fresh bakery products to customers in 17 states. Since its inception, Lewis Bakeries has aimed to produce the best bakery products and respond to consumers’ needs while applying principles of sustainability in all aspects of its business. For more information, visit https://lewisbakeries.net/.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners is designed to afford One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.