Baking & Snack - October 2019 - 18

Arbor Investments to
recapitalize The Bakery Cos.

Chicago-based Arbor Investments, a private equity firm, announced it is uniting the Caparos and Harrington families through
the recapitalization of The Bakery Cos., Nashville, TN.
The Bakery Cos. manufactures fresh and frozen bread, baked
foods and dough products for foodservice, food manufacturing and
retail customers. The company got its start in 1996, when Cordia
and Tom Harrington founded Tennessee Bun Co. in Nashville.
Now, with Arbor's latest investment, the Harringtons will join
forces with another well-known baking family - the Caparos
who had previously operated Gold Standard Baking, Chicago.
Ms. Harrington, known throughout the baking industry as the
"Bun Lady," will continue to lead the recapitalized company as
CEO. She will be joined by Yianny Caparos and George Caparos,
who have been named president and chief development officer,
respectively.
"This three-way partnership is a perfect fit for Arbor, given
our history and success investing in baking and partnering with
dynamic entrepreneurs like Cordia and Yianny" said Gregory
Purcell, cofounder and CEO of Arbor Investments. "It's a potent
combo. The Bakery Cos. lays the foundation, giving us the talent
required to build a new powerhouse in baking manufacturing."
- Eric Schroeder, Milling & Baking News

New flatbread association
complements TIA

The flatbread segment has experienced tremendous growth in
recent years due to increasingly complex consumer dietary and
regulatory demands. A new trade association, the International
Flatbreads Federation (IFF), is launching as a platform for flatbread manufacturers to exchange information, share best practices, expand business networks and learn about formulation advances and regulatory requirements.
IFF will operate in partnership with the Tortilla Industry
Association (TIA).
"Flatbread is the most ancient original bread known to humans.
Today flatbreads make up the largest total in consumption of bread
types worldwide," said Jim Kabbani, CEO of TIA and IFF. "It's a big
day for this growing industry segment, and we could not be more
pleased to provide both industry professionals and suppliers the
support, business tools and networking opportunities they need
to be successful."
Membership is open to producers of flatbreads and machinery or ingredient suppliers. IFF will co-locate with the next TIA
Annual Conference and Trade Expo on May 1-2, 2020, at Harrah's
Southern California Resort & Casino near San Diego.
- Monica Watrous, Food Business News

18 Baking & Snack October 2019 / www.bakingandsnack.com

AIB International celebrates
centennial anniversary

Commemorating a century of in-depth knowledge and technical expertise, AIB International celebrated its 100th anniversary
at the International Baking Industry Exposition (IBIE). All show
attendees were invited to the celebration, and AIB International
welcomed long-standing clients and friends as well as alumni from
many of the organization's training programs.
"AIB International is celebrating a milestone that very few can
claim - 100 years serving the needs of the food industry," said
Andre Biane, president and CEO of AIB International, Manhattan,
KS. "Our global team of professionals are passionate about food,
and each of us shares our clients' unwavering commitment to delivering safe, high-quality food to their consumers every day."
While this is a major milestone for AIB International, the association is also ready for the century ahead.
"The food ecosystem is very complex with increasing regulations
and more informed consumers," Mr. Biane said. "I see this as an opportunity to consult with clients by providing the tools, knowledge
and assistance to support the improvement of their food safety and
quality programs. As we continue to listen to our clients and provide
innovative solutions, we will become stronger partners with them.
In turn, that will drive growth for our business."

Shore Capital invests in
wholesale baker

Shore Capital Partners has completed a recapitalization of Main
Street Gourmet, a wholesale bakery based in Akron, OH. Main
Street Gourmet provides frozen baked foods, including muffins,
cookies, granola, brownies and bars, and other sweet goods to retail
in-store bakery and specialty foodservice customers across the US.
Main Street Gourmet operates out of a 68,000-sq-ft manufacturing facility with about 160 employees.
- Jeff Gelski, Milling & Baking News

http://www.bakingandsnack.com

Baking & Snack - October 2019

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