GRAND RAPIDS, Mich. — Entrepreneurial Equity Partners (e2p) has announced that it has acquired the Roskam Baking Company. Roskam is planned to be merged with Organic Milling, one of e2p’s portfolio companies.
Roskam Baking Company, which is headquartered in Grand Rapids, was founded in 1923. It is a leading contract manufacturer that supports many food brands and companies. The company is recognized for producing frozen, refrigerated, and shelf-stable food products. It also handles food allergens, including peanuts and dairy, in a safe controlled environment.
Mark Burgett, an e2p managing partner, had previously acquired two businesses from the Roskam family. Some of the assets were used to help form Hearthside Food Solutions, LLC. After the experience of those transactions, Bob Roskam reached out to Burgett to initiate the sale of the Roskam Baking Company. “I sought out Mark and the e2p team for a third time because of their deep expertise in contract manufacturing and the reliability they’ve shown as a partner to employees, customers, and the Grand Rapids community,” said Bob Roskam. “For the past 100 years, my family has grown Roskam into a food manufacturing company with an industry-leading reputation for quality and reliability. I am confident e2p is the best partner to carry on our culture of excellence and long legacy of unmatched customer satisfaction. In many cases, our customers have entrusted Roskam’s adept management and special capabilities to meet their unique needs for multiple generations, and I believe e2p is worthy of that trust.”
“Bob and I met nearly 20 years ago when we were on our respective family vacations in Costa Rica,” said Burgett. “We’ve stayed in close touch and remained personal friends ever since, which has led to meaningful mutual trust and respect, which in turn had ultimately led to three transactions that were consummated without the involvement of an investment banker. The close relationship that Bob and I have shared for two decades is a great illustration of how we at e2p form mutually beneficial relationships with exceptional family business leaders like Bob.”
“We are excited to partner with the incumbent management team, who will play a critical role in helping to drive the next phase of growth at Roskam,” said e2p Vice President Kevin Henneck. “This is the first acquisition of a Roskam business where we’ll be inheriting the entire team, which is exciting given their track record of growth. We have been very impressed with their work ethic and dedication and look forward to helping them build on their recent successes. Finally, we look forward to continuing the tradition that the Roskam family started nearly 100 years ago, which is manufacturing high-quality food products and making a positive impact on the Grand Rapids business community.”
