DALLAS — Private equity firm KKR has officially struck a deal to acquire Nothing Bundt Cakes from Roark Capital for more than $2 billion, including debt, according to the Wall Street Journal, which broke the news March 25.
The acquisition follows the trend of private equity interest in consumer-focused franchise platforms, which attract institutional capital seeking long-term growth opportunities. Last year, Nothing Bundt Cakes sold nine company-owned franchises to private equity firm FS Investors.
Launched in 1997 by two mothers in Las Vegas, Nothing Bundt Cakes has since made a name for itself in the fast-casual retail bakery sphere. With a portfolio of bundt cakes in a range of flavors and sizes, the chain operates more than 700 bakeries across the US and Canada.
Earlier this year, the bakery earned the title of America’s No. 1 Food Brand, as recognized by Technomic and Nation’s Restaurant News.
The achievement, based on consumer feedback across key aspects of the holistic dining experience — including service and hospitality, food quality, ambiance, convenience and overall value — highlights the brand’s commitment to providing high-quality service for customers across all locations.
The bakery brand is expected to continue providing customers with the quality they’ve come to know from Nothing Bundt Cakes, in the form of new frosting flavors, holiday specials and more.
