D.A. Davidson & Co. announced today that it acted as financial advisor to The James Skinner Baking Company (“J. Skinner” or the “Company”) in its sale to Stellex Capital Management (“Stellex”), a private equity firm with over $2.6 billion in committed capital that invests in middle-market companies across North America and Europe. Based in Omaha, Nebraska, J. Skinner supplies ready-to-eat baked goods to grocery in-store bakeries (“ISB”), foodservice providers, and through co-pack partnerships. Founded in 1983, J. Skinner has grown to become one of the largest ISB providers in the U.S., distributing its products through over 30,000 locations in all 50 states. The company is renowned for its artisan baked goods, including danishes, muffins, cinnamon rolls, brownies, and bars. Stellex’s investment will enable further expansion of production capacity, increased automation, and new product development.
“I’m thrilled to partner with Stellex on the next chapter in J. Skinner’s growth,” said Audie Keaton, CEO of J. Skinner. “D.A. Davidson was an essential partner in helping advise J. Skinner through this transformational partnership. Their deep understanding of our business, valuable advice, and tenacity throughout the process were critical to a successful outcome for the business.”
“J. Skinner is one of the preeminent ISB platforms in the country and we’re delighted and appreciative to have had the opportunity to work with Audie and the rest of the J. Skinner team on this transaction,” said Danny Friedman, Managing Director at D.A. Davidson. “We’re excited to see what J. Skinner will achieve with the expertise and resources that Stellex will bring to the business.”
“J. Skinner and Audie Keaton have been pillars of the Nebraska business community,” said John Decker, Managing Director and Head of Business Advisory Services at D.A. Davidson. “This transaction represents another successful outcome for a Nebraska-based client and demonstrates our commitment to serving companies throughout the state.”
D.A. Davidson’s Consumer Investment Banking Group has a strong reputation for advising leading brands, leveraging deep industry knowledge, a broad range of capabilities, and unparalleled commitment from its senior professionals. The Consumer Group has extensive experience with middle-market companies across a broad spectrum of consumer segments, including food & beverage, consumer products, ecommerce and marketplaces, consumer & business services, and outdoor & active lifestyle. The team’s leadership in mergers and acquisitions and capital formation, complemented by a seasoned debt advisory practice, enables D.A. Davidson’s Consumer team to provide comprehensive debt and equity solutions to clients across various specialized subsectors within each of its core segments.
