BOULDER — Farm & Oven Snacks Inc., a Boulder-based soft-baked-cookie manufacturer that incorporates vegetables into its recipes, was acquired by North Carolina’s Dewey’s Bakery Inc.
Farm & Oven’s co-founders Mike Senackerib and Kay Allison will join Dewey’s executive team, with Senackerib serving as CEO and Allison as chief marketing officer. Dewey’s board chairman and majority owner Scott Livengood will run the company’s retail operations, according to a Farm & Oven news release.
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The Farm & Oven deal coincides with an investment in Dewey’s by French private equity firm Eurazeo.
Terms of the acquisition were not disclosed. The Winston-Salem Journal reported this week that the Eurazeo investment is $25 million.
“All of us at Dewey’s could not be more thrilled to be partnering with Eurazeo on this exciting new chapter of growth for our company,” Livengood said in the release. “Dewey’s has established a strong presence in both specialty food retailers and supermarkets across the country driven by our second-to-none products, capabilities, and team. With the added help of Eurazeo’s deep resources and know-how, and Mike and Kay’s proven leadership, we aim to become a leader in our category in the years ahead. This transaction is the culmination of several months of planning and discussion with the Eurazeo Brands team.”
Farm & Oven launched in December 2017, and products are available in retailers such as Walmart, Sprouts and Jewel Food Stores, as well as through e-commerce channels, the release said.
Livengood is a former CEO of Krispy Kreme Doughnuts Inc. who was dismissed in 2005 from that role amid a federal investigation into the company’s accounting practices. He bought a majority share in Dewey’s a year later.
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