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Granny's Kitchens Ltd. will become part of the expanding portfolio of specialty bakery businesses of Keystone Bakery Holdings, which already includes Freed's Bakery LLC.
Keystone Capital Inc., through its investment in Keystone Bakery Holdings, announced the acquisition, which both companies agree will allow them to benefit from expanded sales channel reach and operational synergies. Following the addition of Granny's, Keystone Bakery Holdings will generate approximately $75 million in sales.
Granny's Kitchens, located in Frankfort, N.Y. and founded in 1981 by current president and CEO Alan Rosenblum, is one of the leading full line suppliers of doughnut products serving the in-store bakery, retail, foodservice and convenience store markets.
"Alan and his employees have built a terrific company with quality products and a world class facility," said current Freed's president Kevin McDonough, who will assume responsibility for the two businesses. "We have a unique opportunity to capitalize on the growth and reputation of both companies by expanding the broad portfolio of products we can provide our customers."
Freed's Bakery, founded in 1921 as a retail bakery for the city of Manchester, N.H., is one of the nation's leading providers of thaw-and-serve cupcakes, servicing over 40 of the top 50 grocery chains in the U.S. Keystone Bakery Holdings acquired Freed's in 2001.