dealmaking

Tom Cat Bakery Sold to Investment Groups

Tom Cat Bakery Sold to Investment Groups

We’re told via a press release that Tom Cat Bakery, the 21-year-old bakery whose delivery trucks are omnipresent around the city, has just been acquired by a pair of investment groups, Ancor Capital Partners and Merit Capital Partners. The bakery’s big-ups, Matthew Reich and James Rath, will stay on as shareholders and as president and vice-president, respectively. According to a Crain’s article about the sale, the company has 275 employees and 900 customers (Union Square Café, Le Bernardin, etc.) and boasted $32 million in revenues this year. Looking back on a Times story from 1987, it’s clear the company was baked from very modest dough — i.e. about $120,000 in start-up money (the original bakery’s original stove cost $32,500 to acquire and recondition). Expect to see more Tom Cat Bakery bread on restaurant tables — if, of course, bread baskets return!

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