De Wafelbakkers Has Been Acquired by Brynwood Partners

William Blair acted as the exclusive financial advisor to De Wafelbakkers, a subsidiary of The Oklahoma Publishing Company, in connection with its sale to Brynwood Partners. The transaction closed on April 5, 2021.

Transaction Highlights

• Deep relationships and sector expertise: De Wafelbakkers recognized William Blair's extensive knowledge and experience advising leading food and beverage companies and deep relationships with the most likely strategic and financial buyers globally.
• Optimal positioning: William Blair successfully articulated De Wafelbakkers as a leading frozen breakfast platform of scale, driving growth in the syrup carrier category through leading quality and innovation. Other key positioning highlights included the company's leading market share, scaled presence in major channels, and leading manufacturing and operational efficiencies.
• Trusted guidance: William Blair's transaction team was integrally involved throughout each step of the transaction process, including close collaboration with management in developing marketing materials, coordinating due diligence, navigating COVID-related business dynamics, and negotiating key contract terms.
• Execution and process excellence: William Blair designed and managed a high-touch process to effectively drive strong interest from financial sponsors as well as engage the most likely strategic buyers, resulting in a highly competitive process.

About the Companies

De Wafelbakkers is a leading manufacturer of branded, co-manufactured, and private label frozen pancakes, waffles, and french toast in the U.S. The company's great-tasting products are sold to grocery and mass retailers, as well as into foodservice outlets nationally. De Wafelbakkers is based in North Little Rock, Arkansas where it operates a 100,000 sq. ft. manufacturing facility. The company also manufactures products from its 98,000 sq. ft. facility in McDonough, Georgia. De Wafelbakkers employs approximately 650 people across its two plants and satellite offices.

The Oklahoma Publishing Company is based in Oklahoma City and is a subsidiary of The Anschutz Corporation.

Brynwood Partners, founded in 1984 and based in Greenwich, Connecticut, is an operationally-focused private equity firm that makes control investments in North American-based lower middle market companies. The firm targets non-core brands or companies operating exclusively in the consumer sector.

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