Dallas, US-based bakery chain Nothing Bundt Cakes has sold nine company-owned bakeries in the San Diego market to private equity firm FS Investors.
Nothing Bundt Cakes has not disclosed the terms of the agreement, which represents a key milestone in the brand’s long-term growth strategy and allows it to further speed up expansion in one of its most promising regions.
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FS Investors has signed a development agreement to construct 16 further bakeries in the San Diego area.
Nothing Bundt Cakes has around 700 locations in the US and Canada.
The company’s Bakeries Bring the Joy offers handcrafted Bundt Cakes for pickup or delivery in a range of flavours and sizes including Bundtinis, the brand’s cupcake-sized Bundt Cakes, personal-sized Bundtlets and 8-inch and 10-inch Bundt Cakes.
Nothing Bundt Cakes CEO Dolf Berle stated: “Our focus at Nothing Bundt Cakes is to accelerate growth and build upon the record that we set of over 100 new bakeries in 2024.
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By GlobalData“Selling our San Diego company-owned bakeries to FS Investors gives them a platform from which they can build a significant number of new bakeries in this region.”
FS Investors will spearhead the regional growth of Nothing Bundt Cakes, aiming to more than double its bakery count.
Commenting on the acquisition, a spokesperson for FS Investors stated: “As owners and operators who live in the San Diego area, we are tremendously excited to add the Nothing Bundt Cakes brand to our family of companies.
“The opportunity to be owners in this fast-growing concept — with strong return-on-capital characteristics for new bakery builds — is very exciting for us. We look forward to bringing joy to the San Diego community through this award-winning product and guest experience.”
