Leawood investment firm acquires specialty baker Labriola
06/17/2013 1:19 PM
06/17/2013 1:28 PM
An investor group led by Leawood-based Plaza Belmont Management Group on Monday completed the acquisition of Labriola Baking Co., which produces fresh and frozen artisan breads.
Terms of the purchase were not disclosed. Labriola is based in Alsip, Ill., and supplies fresh atrisan bread to hotels, restaurants and retail stores in a market that covers Milwaukee, the Chicago area, and Indianapolis. The bakery also produces specialty frozen pretzel breads, which are distributed nationally.
A Labriola Bakery Cafe in Oak Brook, Ill., was not part of the transaction.
The Plaza Belmont acquisition was handled through its Plaza Belmont Fund III L.P. Plaza Belmont manages private equity funds that focus on investments in food manufacturing and related industries.
“The rationale for the sale was to create a partnership that not only brings additional financial resources to Labriola, but extensive industry expertise as well,” said Rich Labriola, who founded the company in 1993. He will remain with the business as vice chairman and chief innovation officer. Rob Burch, who joined Labriola in 2010, will become president.
Bob Parnow, president of Plaza Belmont, will serve as chairman and chief executive of Labriola.
Other investors in Labriola are C3 Capital LLC of Kansas City, Kansas City Venture Capital Inc., of Overland Park, Lewis Clark Private Equities II L.P. of Kansas City, and several other limited partners of Plaza Belmont Fund III L.P.
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