Baking & Snack - September 2022 - 10

New Water acquires
Klosterman Baking Co.
New Water Capital Partners LP, a Boca Raton, Fla.-based private
equity firm focused on lower-middle market companies, has acquired
Klosterman Baking Co. The Cincinnati-based baker of
fresh and frozen baked foods had been owned and operated by
the Klosterman family since it was founded in 1892.
Klosterman operates 17 bakeries and distribution facilities
across eight Midwest states. The company produces fresh and frozen
bread, buns, flatbread, organic bread, artisan bread, donuts
and other baked products serving an extensive, well-established
national customer base of restaurants and other foodservice
operators, grocery retailers, convenience stores and institutional
operations.
The company said the acquisition came after the Klosterman
family made the decision together to step away from the industry.
" As a family, we decided it was in our best interest and the interest
of the company that a new organization take the lead of
the business, " said Chip Klosterman on behalf of the Klosterman
family. " New Water's proven record of success in building on the
strengths of partner companies to reach the next level of growth
and success was vital to us in our selection process and makes
them the preferred partner to continue our family's legacy. "
According to Klosterman, the acquisition by New Water will
position the company for continued success and long-term
growth potential through investing in updates and enhancements
to increase production and efficiencies.
" Through this strategic partnership with New Water,
Klosterman will be able to better systemize operations, embrace
channels and position our company for further growth, " said Ross
Anderson, president of Klosterman Baking.
" Over the course of four generations, the Klosterman family
has built a remarkable business that has a reputation for putting
customers and employees first, " said Anuj Singh, principal of New
Water. " We are grateful to be able to partner with the company to
continue building upon that culture and legacy. "
- Lisa Berry, Milling & Baking News
James Lynch, baking
industry veteran, dies
James Lynch, longtime president of D. Thomas
+ Associates, a provider of packaging solutions
for the food industry, died on July 21 at his
home in Kansas City. He was 76 years old.
Born in Lima, Ohio, in 1945, Mr. Lynch atA
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Lynch
tended the University of Notre Dame where
he was the starting middle linebacker, consensus
first team All-American and sole captain
of the 1966 Fighting Irish national championship football team.
Mr. Lynch played linebacker for the Kansas City Chiefs for 11
years and was a member of the 1970 Super Bowl team.
In 1974, Mr. Lynch was named president of newly formed D.
Thomas + Associates by founder Daniel T. Hogerty II. He and
Mr. Hogerty led the company until December 2019, when they
both retired.
- Lisa Berry, Milling & Baking News
10 Baking & Snack September 2022 / www.bakingbusiness.com
Flowers closes
Holsum Bakery in Phoenix
Flowers Foods Inc., Thomasville, Ga., will cease production at its
Holsum Bakery in Phoenix, effective Oct. 31. The facility is one of
the oldest bakeries in the city, having opened in 1881.
" This is a result of both a decision to discontinue supplying certain
customers and the significant estimated costs of modernizing
its outdated equipment, " said Michael Lord, general manager of
Holsum Bakery. " Although the company plans to discontinue all
baking operations, the shipping department is expected to service
customers as part of a broader bakery warehouse network in
Arizona. Holsum is committed to working with all relevant stakeholders
as the bakery finalizes its plans. "
Flowers Foods acquired Holsum Bakery Inc. and its two baking
plants in Arizona, Phoenix and Tolleson, in 2008 for $150
million. The company's fresh bread and rolls are marketed under
the Holsum, Aunt Hattie's and Roman Meal brands. At the time
of the acquisition, Flowers Foods noted Holsum's high esteem in
the baking industry for the leadership it maintained in Arizona as
many other independent regional baking companies around the
United States were acquired by larger companies.
- Eric Schroeder, Milling & Baking News
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Baking & Snack - September 2022

Table of Contents for the Digital Edition of Baking & Snack - September 2022

Baking & Snack - September 2022 - Intro
Baking & Snack - September 2022 - 1
Baking & Snack - September 2022 - 2
Baking & Snack - September 2022 - 3
Baking & Snack - September 2022 - 4
Baking & Snack - September 2022 - 5
Baking & Snack - September 2022 - 6
Baking & Snack - September 2022 - 7
Baking & Snack - September 2022 - 8
Baking & Snack - September 2022 - 9
Baking & Snack - September 2022 - 10
Baking & Snack - September 2022 - 11
Baking & Snack - September 2022 - 12
Baking & Snack - September 2022 - 13
Baking & Snack - September 2022 - 14
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Baking & Snack - September 2022 - 16
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Baking & Snack - September 2022 - 18
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Baking & Snack - September 2022 - 20
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Baking & Snack - September 2022 - 33
Baking & Snack - September 2022 - 34
Baking & Snack - September 2022 - 35
Baking & Snack - September 2022 - 36
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Baking & Snack - September 2022 - 53
Baking & Snack - September 2022 - 54
Baking & Snack - September 2022 - 55
Baking & Snack - September 2022 - 56
Baking & Snack - September 2022 - 57
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Baking & Snack - September 2022 - 70
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Baking & Snack - September 2022 - 72
Baking & Snack - September 2022 - 73
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Baking & Snack - September 2022 - 90
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https://www.nxtbook.com/sosland/bs/2016_12_01
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