Rubicon Bakers

Multi-Channel Bakery Transaction

Integris Partners recently advised Rubicon Bakers on its majority re-capitalization with Trive Capital. Founded in 1993 and based in Richmond, California, Rubicon sells clean label cakes, cupcakes, muffins, and pies in a variety of everyday and seasonal flavors to grocers nationwide. The Company offers gourmet, scratch-made desserts in both branded and private label formats to create a complete solution for in-store bakeries in the natural and conventional channels.

“Rubicon’s brand presence, unmatched quality, and tailored product development capabilities provide a unique value proposition to in-store bakery departments, an area of increasing importance to grocers,” said Andrew Stoloff, President and Co-owner of Rubicon. “Integris understood our position in the market and generated significant interest from experienced CPG investors. When a global pandemic set in during the process, Integris showed tremendous poise and kept our process on track, which allowed us to complete a highly successful transaction.”

Leslie Crary, VP of Human Resources and Co-owner, added, “As a mission-driven organization, Rubicon has been ‘Baking a Better World’ for over 25 years. We help to rebuild lives by employing, training, and supporting members of our community who need a second chance. It was critically important for us to partner with an investor who shared our vision and Integris delivered just that. Integris ultimately matched us with partners who shared our view of the world and appreciated Rubicon’s unique potential. We are truly grateful for their guidance and are thrilled to be partnering with the Trive Capital team.”

Trive Capital is a Dallas, Texas based private equity firm with a focus on investing in strategically viable middle-market companies and partnering with management teams to capture transformational upside. Chris Zugaro, Partner and co-founder of Trive Capital, commented, “We have been searching for an investment in the food and beverage sector like Rubicon for a long time. The Company is a category leader with a fantastic product set, led by a dynamic team, with incredible growth potential. The Integris team’s high-touch process and deep knowledge of the business were crucial to the deal’s execution in these unprecedented times. We could not be more excited to begin our partnership with Andrew, Leslie, and the rest of the Rubicon team.”

Holland & Hart provided legal counsel to Rubicon.

For additional information on the transaction, please contact Patrick Seese, Ethan Furtek, Jared Syke, or Nick Sullivan.