The deal for the brand of artisan breads and rolls also includes the Ecce Panis bakery operations in the South River/East Brunswick area, which should keep more than 50 jobs in the state.
“With the acquisition of Snyder’s-Lance in 2018, our growth strategy is focused on unique and differentiated brands within our snacking and traditional center-store baking and frozen categories,” a Campbell’s spokesperson told ROI-NJ in an emailed statement. “We are pleased we were able to find a buyer that sees the value and the potential of this brand and the talented team at the East Brunswick bakery.”
Rochelle Park-based investment bank The DAK Group said it served as exclusive investment banker and financial adviser to Jimmy’s Cookies, initiating and managing the acquisition process.
“This acquisition will accelerate Jimmy’s Cookies’ industry leadership position, while simultaneously adding greater value to the company,” DAK President Alan Scharfstein said in a prepared statement.
Scharfstein engineered the transaction along with the team of Ari Fuchs, managing director, and Melvyn Threatt-Peters II, vice president.
“The addition of the Ecce Panis brand is consistent with our strategy to drive growth through expanding and diversifying our product line,” CEO Howard Hirsch said in a statement. “Artisan breads represent a fast-growing segment of the bakery category and will complement our cookie business, providing customers with a full range of premium baked goods.”
Jimmy’s Cookies will operate the new 113,000-square-foot baking facility, the DAK Group said.
“We are excited about this acquisition doubling our manufacturing capacity and keeping so many quality jobs in New Jersey,” Jimmy’s President Michael Pisani said in a statement.