Market Monitor: Baked Goods
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Market Monitor: Baked Goods
Even with challenges from new tariff rules and changes in government regulations, mergers and acquisitions in the baked goods sector continue to grow. The pace of activity in this market is now ahead of the larger food and beverage industry.
Private Equity Firms Continue to Buy in a Fragmented Market
Because the baked goods industry is made up of many smaller businesses, it has become a focus for private equity firms looking to expand. Some of the most active buyers include:
Legacy Bakehouse (Benford Capital Partners)
Sweetmore Bakeries (Shore Capital Partners)
Commercial Bakeries (Graham Partners)
These companies are steadily increasing their presence through acquisitions.
Valuation Multiples Rise by 12%
Publicly traded baked goods companies have seen their valuation multiples grow by 12 percent since the beginning of the year. These companies are now valued higher than others in the consumer packaged goods sector.
One Equity Partners Acquires CraftMark Bakery
In March 2025, One Equity Partners announced the acquisition of CraftMark Bakery, an Indianapolis-based manufacturer of frozen baked goods, from CIC Partners. CraftMark produces cookie dough, muffins, breads, and flatbreads for quick service restaurants and retail bakeries. With a large automated facility and over 400 employees, the company strengthens OEP’s position in the growing frozen bakery and foodservice markets.
For more information or questions, please contact our contributors:
Rich Anderson, Managing Director: randerson@
Johnny Sherwood, Director: jsherwood@