KKR Strikes Deal for Nothing Bundt Cakes

Private-equity giant KKR has struck a deal to acquire the U.S. bakery chain Nothing Bundt Cakes from Roark Capital for over $2 billion, including debt, according to people familiar with the matter.

Nothing Bundt Cakes was started by two mothers in 1997. The business has since expanded to hundreds of locations around the country. It makes customizable Bundt cakes in a range of sizes and flavors including red velvet, confetti and banana pudding cake.

Roark acquired the Dallas-based chain in 2021.

The bakery chain is largely franchised, a business model that private-equity firms have been attracted to because it can offer predictable revenue streams.

To read more, please visit MSN.