Private Equity Firm Partners with Management to Acquire Shipley Do-Nuts
Levine Leichtman Capital Partners has acquired Shipley Do-Nuts in partnership with its management team, with plans to expand the brand's presence.
Levine Leichtman Capital Partners (LLCP), a private equity firm, has completed the acquisition of Shipley Do-Nuts from Peak Rock Capital. The financial details of the transaction were not disclosed. Shipley Do-Nuts, headquartered in Houston, operates over 375 locations across 14 states in the United States.
The acquisition involves a partnership with Shipley's existing management team, which will continue to operate from the company's Houston headquarters. CEO Flynn Dekker leads the current executive team. LLCP aims to expand Shipley's unit count and enhance same-store sales growth as part of its strategic objectives.
Shipley Do-Nuts, established in 1936, offers a variety of donuts, kolaches, and coffee. The brand is recognized for its handcrafted products, with more than 60 varieties available. The acquisition by LLCP marks its 18th investment in the franchising sector, adding to its portfolio of 32 brands across various industries.
Kirkland & Ellis LLP and DLA Piper provided legal counsel for LLCP in the transaction. Shipley Do-Nuts received advisory services from North Point and J.P. Morgan.
Levine Leichtman Capital Partners has a history of investments in the franchising industry, including previous investments in brands such as Tropical Smoothie Cafe, Nothing Bundt Cakes, and Hand & Stone.
