Houston favorite Shipley do-nuts There is a new owner. Private equity firm Peak Rock Capital announced that it had bought the company from the Shipley family. Terms of the deal were not disclosed.
Known for its donuts and kolaches, the Houston-based company has more than 300 locations in nine states. The acquisition will allow the company to grow with both its existing franchise and find new opportunities in other markets.
“My grandfather, father, and I have devoted our lives to the service of Shipley do-nuts, our franchisees, and our guests. After a thorough search, it became clear that Peak Rock Capital was the ideal storehouse of our business because it Pursues the next stage. Of development, “Lawrence Shipley III said in a statement. “My family is thrilled to continue as investors in the company, and we look forward to exciting developments to come.”
With the completion of the purchase, Shipley retired from his post as president of the company. He will focus on other family investments, according to a release.
“Rockley represented an exciting opportunity to invest in a beloved consumer brand with an established reputation for authenticity and quality,” said Robert Strauss, managing director of Peak Rock. “We are very impressed with the franchise that the Shipley family has built, and we look forward to partnering with the company’s management team to invest behind their growth plan.”
Peak Rock Capital is an Austin-based “middle-market private investment firm” with investments in various businesses in both the US and Europe. Its other holdings include snack food maker Halo Foods Ltd. and Turkey Hill, a company that makes ice cream and refrigerated beverages.
Shipley Do-Nuts is the latest Texas brand acquired by a private equity firm. In November, Tacchi’s Tacos announced it had received a $ 400 million investment that would allow it to expand to 10 more states over the next four years. BDT Capital Partners of Chicago acquired a majority stake in Wahuburger in 2019, with plans to expand the brand.