Houlihan Lokey Advises BakeMark

Houlihan Lokey is pleased to announce that BakeMark, a portfolio company of Pamplona Capital Management (Pamplona), has been acquired by Clearlake Capital Group, LP (Clearlake). The transaction closed on September 3, 2021.

Based in Pico Rivera, California, BakeMark is the recognized market leader in the baking industry as a manufacturer and distributor of bakery ingredients, products, and supplies. BakeMark serves North America and customers internationally across all industry channels with its comprehensive product portfolio, including bakery mixes, fillings, icings, glazes, commodities, frozen products, and bakery supplies. BakeMark is the exclusive distributor of some of the industry's top brands, including Westco, BakeSense, Best Brands, Multifoods, BakeQwik, Trigal Dorado, C'est Vivant, and Sprinkelina, operating through five manufacturing plants and 29 distribution centers across North America.

Established in 2005, Pamplona Capital Management is a specialist investment manager that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $11 billion in assets.

Clearlake Capital Group, LP, is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are consumer, industrials, and technology. Clearlake currently has approximately $39 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.

This deal represents another successful transaction for Houlihan Lokey in the North American bakery sector following the sale of the Weston Foods ambient baking business to Hearthside Food Solutions; the Weston Foods fresh and frozen bakery businesses to FGF Brands; Dessert Holdings to Bain Capital; the North American business of ARYZTA AG to Lindsay Goldberg; Give & Go to Mondelēz; Venice Bakery to Rich Products; and C.H. Guenther & Son, Inc., to PPC Partners.

Houlihan Lokey acted as financial advisor to BakeMark and assisted in negotiating the transaction on its behalf.