Iowa-based private equity firm, Midwest Growth Partners III, L.P. (MGP), announced today that its portfolio company French Gourmet, a Nevada-based manufacturer of artisanal croissants, Danish pastries, dough shells, and puff pastries, has merged with Iowa-based ShellsbyDesign, a leading provider of innovative sweet and savory frozen tart shells and ready-to-eat (RTE) frozen desserts.
French Gourmet services hotels, cafes, independent bakeries, diners, grocery bakeries, and other food service businesses. “With the addition of complementary, premium, product offerings and an expanded geographical reach, French Gourmet is positioned to deliver even greater value to existing customers of both companies. We are excited to work with this experienced and dedicated Iowa team who shares our commitment to premium quality products and high-level customer service,” said Don D. Smith, CEO for French Gourmet.
“French Gourmet’s extensive product offerings and market reach will enable us to execute on the vision I’ve had for our company since co-founding the business 15 years ago. We look forward to joining forces with the French Gourmet team to support our combined customers’ success with enhanced premium product offerings,” said David Lichtenstein, Co-Founder of ShellsbyDesign, who will continue to serve as Director of Operations at the Iowa facility.
“The merger of French Gourmet and ShellsbyDesign creates an impressive synergy of product lines and manufacturing capabilities. I’ve enjoyed working with the management teams of both companies and am excited to support continued growth and innovation,” said Zane Hendricks, Vice President of Midwest Growth Partners.
Headquartered in Iowa with an additional office in Nebraska, Midwest Growth Partners is a private equity firm that specializes in succession planning and growth capital investments across the food and agriculture value chain. MGP is responsible for more than $325 million of private capital across three funds, employing over 4,200 people. These investments drive growth, add jobs, professionalize businesses, and aid in succession planning while creating value for investors.
For more information on French Gourmet, please visit https://www.frenchgourmet.com.
For more information on ShellsbyDesign, please visit https://www.shellsbydesign.com.
For more information on Midwest Growth Partners, please visit https://www.mgpfund.com.
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