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Thursday, Nov 30, 2023

Global Bakeries Consolidates With Van Nuys Acquisition

Global Bakeries LLC in Pacoima has acquired Better Baking Co., a manufacturer and distributor of food products in Van Nuys, for an undisclosed amount. Global Bakeries is operated by Dallas investment firm Surge Private Equity, which in November invested $15 million into the baked goods manufacturer with financing from Firmament Group, which has offices in New York, London and Los Angeles. Firmament again provided financing for the Better Baking Co. acquisition. Better Baking’s founder Ashur Aghasi will join Global Bakeries as chief operating officer. “Better has established itself as a manufacturer of premium bakery products in the regional L.A. market. Add to that the synergies in our operational geography, it became a no-brainer to acquire such a parallel company,” Global Bakeries Chief Executive Chris Botticella said in a statement. Better Baking Co. is Global Bakeries second acquisition this year — the company acquired Bubbles Baking Co., a Van Nuys manufacturer specializing in frozen cakes and pastries, in March.

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