New York firm invests in Evansville’s Lewis Bakeries
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An affiliate of a New York private equity firm has made an investment in Lewis Bakeries Inc., a third-generation, family-owned bread and baked goods maker based in Evansville.
One Rock Capital Partners LLC announced its “strategic investment” earlier this month, though financial terms were not disclosed.
Founded in 1925 by three brothers, Lewis Bakeries is the largest wholesale bakery in Indiana, the news release said. The company employs about 2,000 people in bakeries located in Evansville, LaPorte, Fort Wayne and Vincennes and in Murfreesboro, Tennessee.
Whether any Lewis Bakeries employees will be affected by the deal is unclear. Inside INdiana Business has emailed a One Rock representative for comment.
H. Dean Short, grandson of founding brother R. Jack Lewis Sr., will continue in his role as president, according to a news release.
“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,” Short said. “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.”
Lewis Bakeries products are distributed in 17 states, predominantly in the Midwest, under brands such as Lewis Bake Shop, Bunny Bread, Butternut and Healthy Life.
“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,” One Rock partner Jack Rosenberg said in the news release. “These priorities convince us that Lewis is well-positioned for further growth in new product categories and geographies.”
One Rock Capital Partners invests in a range of industries, including chemicals and process industries, food and beverage manufacturing and distribution, specialty manufacturing, and business and environmental services. The New York private equity firm says it has about $7 billion in investments under management.