COMMERCIAL BAKERIES ANNOUNCES THE STRATEGIC ACQUISITION OF IMAGINE BAKING

Expands capabilities within the fast-growing North American private label cookie and cracker market

TORONTO, May 15, 2024 /CNW/ - Commercial Bakeries Corp. ("Commercial Bakeries"), a producer of private label packaged cookies headquartered in Toronto, Canada, is pleased to announce that it has acquired Imagine Baking, Inc. ("Imagine Baking"), a manufacturer of specialty / premium and better-for-you crackers, cookies, biscuits, and brittle, focusing on the gluten-free and organic spaces.

This marks the first add-on acquisition for Commercial Bakeries since Graham Partners ("Graham"), a private investment firm targeting investing in advanced manufacturing companies, acquired Commercial Bakeries in September 2023. Imagine Baking provides an opportunity for the combined company to expand its capabilities and capitalize on the growing trend towards private label baked snacks in the North American cookie and cracker market. 

Imagine Baking is headquartered in Sandusky, Ohio, where it operates a 114,000 square foot facility that includes segregated manufacturing lines, multiple packaging capabilities, and a sizeable R&D laboratory, which will help to unlock additional opportunities for the combined businesses.

Adrienne and John O'Donnell, founders of Imagine Baking, said: "This will be a win-win for both our companies, as we look forward to adding our innovation focus to the strong product offerings at Commercial Bakeries. Together we will create a compelling solution for both national brands and private label needs."

Shawn Warren, CEO of Commercial Bakeries further commented: "We are delighted to welcome John and Adrienne O'Donnell and their Imagine Baking team into the expanded business. We are confident that together we will accelerate towards our promise of 'Baking Up Better' every day and in every way."

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About Commercial Bakeries
Headquartered in Toronto, Canada, Commercial Bakeries is a producer of private label packaged cookies with a focus on specialty / premium, better-for-you, and seasonal / limited time offering ("LTO") products. Commercial Bakeries primarily serves the retail and co-manufacturing channels, partnering with many retail grocery chains and brands in North America.

About Imagine Baking
Imagine Baking is a manufacturer of crackers, cookies, biscuits, and brittle, focusing on the gluten-free and organic spaces. Imagine Baking has a strong track record of partnering with its customers to develop, optimize, and commercialize innovative, trend-forward specialty baked products with a health and wellness emphasis.

About Graham Partners 
Graham Partners is a private investment firm focused on investing in technology-driven companies that are spurring innovation in advanced manufacturing, resulting in product substitutions, raw materials conversions, and disruptions to traditional end markets. Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise and is a member of The Graham Group, an alliance of independent operating businesses, investment firms, and philanthropic entities, which all share in the common legacy of entrepreneur Donald Graham.

SOURCE COMMERCIAL BAKERIES CORP

Shawn Warren ([email protected]); Doug Fraser ([email protected]); Adrienne O'Donnell ([email protected])