Middle-market private equity firm Peak Rock Capital has sold donut, kolache, and coffee franchise Shipley Do-Nuts to Levine Leichtman Capital Partners, following 18 consecutive quarters of same-store-sales growth and records for new store growth.
Financial terms of the transaction were not disclosed.
Houston-based Shipley, which has been producing fresh, made-in-house products for nearly 90 years, has more than 375 stories across 14 states.
Since acquiring Shipley from the third generation of the founding family, Peak Rock has supported the Company’s strategic growth and operational initiatives, including expanding in multiple geographies, developing new products, launching a marketing cooperative with franchisees, and developing a new corporate headquarters, and R&D lab.
North Point and JPMorgan acted as financial advisors and Kirkland & Ellis acted as the legal advisor to the Company on the transaction.
