Tide Rock Acquires Full-Line Bakery Manufacturer Glenn Wayne Wholesale Bakery

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Aug 13, 2024, 06:30 ET

SAN DIEGO, Aug. 13, 2024 /PRNewswire/ -- Tide Rock, an unlevered buyout firm with a portfolio of diverse economically resilient B2B businesses, acquired Glenn Wayne Wholesale Bakery, a family owned and operated full-line bakery manufacturer.

Founded in 1990, Glenn Wayne Wholesale Bakery has built a strong reputation for producing high-volume, high-quality baked goods, including donuts, muffins, Danish pastries, cookies, brownies, and other baked goods from their full line manufacturing facility strategically located in Bohemia, New York. The company's commitment to efficient operations and quality has enabled it to expand its reach and distribution nationally.

"We are excited to add Glenn Wayne Bakery to the Tide Rock portfolio and help this successful company reach the next stage of growth," said Brooks Kincaid, President of Tide Rock. "Glenn Wayne has tremendous opportunity to broaden its customer base and explore additional opportunities for expansion. The bakery market has proven to be one of the most resilient categories within the food industry, and their newly obtained gluten-free certification opens several new markets."

According to IBIS World, the North American bakery market, valued at $50 billion in 2022, is expected continue to grow and reach $55.6 billion by 2028.

Glenn Alessi, one of the founders of Glenn Wayne, remarks, "From our humble beginnings in a 1,000 square foot building, we have always prioritized innovation and quality. Over the years, we've invested heavily in building a strong business with high quality products, operationally efficient processes and well-run facilities. Today, we are proud of our automated production processes, inventory management, and ordering systems, as well as our clean facilities and warehouse and our incredible employees. We look forward to working with Tide Rock to continue this legacy and achieve greater growth."

Glenn Wayne's 40,000 square foot facility and 6,000 square foot warehouse location provide ample expansion opportunities and are strategically located near priority distributors and customers. The facilities are certified by the NYS Department of Agriculture & Markets Food Processor License (Article 20-C), FDA Facility Registration, BRCGS Gluten Free Certification, SQF Food Manufacturing Certification (Level 2), Kosher Certification (Kof-K), and Ethical Kosher Certification.

With this acquisition, Tide Rock continues to expand its portfolio of economically resilient businesses, further solidifying its position as a leading unlevered buyout firm.

About Tide Rock
Tide Rock is an unlevered buyout firm that acquires companies with strong free cash flow and grows them to scale while distributing high quarterly yield to its investors. It owns a portfolio of economically resilient business-to-business companies in the lower middle market, specifically in the manufacturing, distribution, and services industries. The company's unique model consistently drives high yield returns without the risk profile typically associated with other investment vehicles. It has offices in Solana Beach, CA and New York, NY. Learn more at tiderock.com.

About Glenn Wayne Bakery
Glenn Wayne Bakery was founded in 1990 as a family-owned and operated wholesale bakery manufacturing donuts, muffins, danish, pastries, cookies, brownies, and other baked items. As a premier bakery manufacturer providing both branded and private label baked goods strategically located in Bohemia NY, Glenn Wayne has been serving local and regional customers with daily fresh deliveries and national brands with high-end thaw to serve baked goods. Recently, Glenn Wayne added a line of gluten-free fresh baked goods to their portfolio.

Media Contact: Jessica McNellis ([email protected])

SOURCE Tide Rock LLC