Dessert Holdings, a North American dessert company, announced that it has acquired Kenny’s Great Pies, a manufacturer of clean label, cream-based pies from Kaho Partners. The acquisition will complement Dessert Holdings’ existing platform of premium dessert brands serving retail and food service customers. Kenny’s will continue to operate under its current management team led by Gary Muter. Financial terms of the transaction were not disclosed.
Established in 1989, Kenny’s signature product is its Key lime pie made with 100% pure, freshly squeezed, authentic Key limes. With humble beginnings in a one-bedroom apartment, Kenny’s has expanded its product set and today sells millions of branded and private label pies through diverse channels. The company operates out of a state-of-the-art, purpose-built facility with newly installed automated mixing and filling lines in Smyrna, Ga.
“Kenny’s clean label, flavorful pies are complementary to our portfolio of premium desserts,” says Paul Lapadat, chief executive officer of Dessert Holdings. “Kenny’s has established a distinctive market position, fostering a number of long-standing relationships with leading foodservice and retail operators, and major clubs in North America, earning a loyal consumer following. Dessert Holdings is excited to supplement these relationships and expand the Company’s distribution network.”
Dessert Holdings’ portfolio of brands includes Steven Charles, The Original Cakerie, Lawler’s, Atlanta Cheesecake Company and Dianne’s Fine Desserts.
“We are excited to become a part of a leading premium desserts platform in North America, and we believe Dessert Holdings’ experience and complementary product portfolio provides specialist expertise to help us accelerate our growth,” says Muter. “We see an incredible opportunity to further promote Kenny’s all natural differentiated product offerings and signature Key lime pie that will pull consumers to store bakeries.”
“Since our initial investment in Dessert Holdings, the business has grown tremendously,” says Adam Nebesar, a partner at Bain Capital, which acquired Dessert Holdings in June 2021. “We are very pleased with the Desserts Holdings performance to date and look forward to partnering with Gary and the Kenny’s team to support their growth ambitions.”
PwC served as accounting advisor, and Ropes & Gray LLP as legal advisor to Dessert Holdings. Integris Partners served as financial advisor, and Holland & Knight served as legal advisor to Kenny’s Great Pies.