NEW YORK, NY, August 20, 2014 – Private equity firm River Hollow Partners announced today that it has made an investment in Dancing Deer Baking Company, a nationally-branded manufacturer of gourmet, baked goods sold across multiple distribution channels. Terms of the transaction were not disclosed.
Established in 1994, Dancing Deer Baking Co sells premium-quality kosher-certified cookies, brownies, cakes and baking mixes in the specialty/natural products, foodservice/travel/hospitality, business gifts and direct-to-consumer marketplaces. Many of the Company's products have won national NASFT (National Association of the Specialty Food Trade) excellence awards, and have been recognized by The Today Show, The View, Good Morning America, the New York Times, USA Today and the Boston Globe. Headquartered in Boston, Massachusetts, Dancing Deer sells its products in over 4,600 retail stores spanning all 50 states, in addition to its direct-to-consumer, reseller and corporate gift channels.
Amy Wolf, River Hollow Partner and Chairperson of the Board said: "We are enthusiastic to partner with current shareholders and Dancing Deer's management team, led by Frank Carpenito, to provide the capital needed to continue the Company's impressive growth."
"As part of our diligence for this investment, we once again engaged with nxtMOVE to develop wholesale customer feedback and insight on purchasing decisions. Its research helped RHP make our investment decision and gave the Dancing Deer management team helpful feedback on the customer relationships and sales process,” said Ms. Wolf. nxtMOVE conducted a customer assessment/analysis centered on Dancing Deer’s key customers to supplement River Hollow’s legal and financial due diligence activities.
Frank Carpenito, President & CEO of Dancing Deer, added "We are very excited about the potential impact River Hollow's new growth capital investment will have on our Company as we look to accelerate growth and broaden our product offering in the coming years. We have had very solid performance in recent years, and look forward to River Hollow's input, guidance, and strategic and operational expertise to help us realize the full growth potential of our business."
Kevin Charlton, Managing Partner at River Hollow, will also be joining the Board of Managers.
BellMark Partners, LLC acted as financial advisor to Dancing Deer, and Loeb & Loeb LLP acted as the legal advisor to River Hollow Partners.