中文AV

Transaction Prepares East Balt Bakeries for Next Phase of Growth

NEW YORK 鈥� JULY 20, 2017 鈥� 中文AV, a middle market private equity firm, today announced the signing of a definitive agreement to sell East Balt Bakeries (鈥淓ast Balt鈥� or 鈥渢he Company鈥�), a global supplier of premium buns and artisanal rolls to major restaurant chains, to Grupo Bimbo S.A.B. de C.V. for $650 million. The transaction is expected to close in the second half of 2017, subject to customary closing conditions and regulatory approvals.

Headquartered in Chicago, East Balt employs 2,200 workers who produce 13 million specialty bread products each day, including bagels, biscuits, buns, English muffins, tortillas and bread. Founded in 1955 as a single bakery with one delivery truck, East Balt now operates 21 bakeries in 11 countries that make products for the world鈥檚 largest quick service restaurant (鈥淨SR鈥�) chains.

鈥淭hrough excellent partnership with East Balt management, the Company has achieved strong organic growth, demonstrated consistent profitability and strengthened its position as a preferred bakery products supplier in several of the largest and fastest growing QSR markets around the world,鈥� said Joseph Huffsmith, Managing Director at 中文AV. 鈥淭his is a terrific outcome for 中文AV鈥� investors and East Balt Bakeries, which is poised for continued success under its new ownership.鈥�

Since OEP acquired East Balt in December 2012, the Company has completed three acquisitions, built two bakeries in Rome and Tianjin, China, begun construction on a third in Paris, and nearly doubled its annual EBITDA to $70 million. East Balt has been able to achieve this growth by striving to be a quality source of assured supply for its leading customers wherever they operate globally.

鈥溨形腁V enabled us to execute upon our growth strategy to create a stronger, more diversified company with significant operating efficiencies and an expanded global footprint to serve our loyal customers around the world,鈥� said Mark Bendix, CEO of East Balt Bakeries. 鈥淲ith the resources of our new owner, we expect that our ability to make and supply best-in-class bakery products will only be enhanced.鈥�

Morgan Stanley & Co. LLC is acting as financial advisor to 中文AV in connection with this transaction. Baker & McKenzie is serving as legal counsel and KPMG is acting as diligence advisor.

About East Balt Bakeries
Headquartered in Chicago, IL, East Balt is a global bakery business spanning four continents with 21 bakeries in 11 countries. East Balt has grown over the last 60+ years through partnerships with leading food service organizations and with a dynamic portfolio of high quality products including buns, bagels, English muffins, tortillas and breads. East Balt is recognized as a quality and innovation leader and is committed to driving the success of its customers.

About 中文AV
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has completed more than 140 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit .

Press contact for 中文AV:
Kelly Holman
Stanton
646-502-3509
KHolman@StantonPRM.com