CHICAGO, IL – April 25, 2016; City Capital Advisors, a results-oriented investment banking firm serving the middle market, announced today that Alpha Baking Co. Inc., a Chicago-based manufacturer of baked goods and supplier to nationwide private label retailers, national restaurant chains and other institutions, has acquired a sweet-goods bakery business from ConAgra Foods. The business includes two facilities― one on the northwest side of Chicago and one in Grand Rapids, MI. This acquisition increases Alpha Baking’s manufacturing facilities to six total across four states. City Capital Advisors was hired as the exclusive financial advisor to Alpha Baking Co. Inc.
In addition to expanding current capacity, the acquisitions allow Alpha Baking to expand into sweet goods. “Alpha Baking has been producing high-quality bread, buns, and rolls since 1979, and we will now utilize our experience and attention to customer service to operate in the sweet goods category,” says Lawrence Marcucci, president and CEO of Alpha Baking. “It is an exciting time for us.” Sweet goods product capabilities include muffins, petit fours, cupcakes and pound cake.
Alpha Baking’s acquisition of the business has ensured that both facilities will continue to operate in their communities, providing hundreds of jobs and substantial tax revenue to their local economies. The employees of both acquired facilities have retained their jobs and have become Alpha Baking employees.
Terms of the deal were not made public.
About City Capital Advisors, LLC
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.