37th Street Bakery has completed the acquisition and rebranding of Gold Standard Baking (GSB), the US’ largest manufacturer of croissants and producer of dough-based, sweet baked goods.
The rebranding and new company name represents an homage to its legacy bakery facility on 37th Street, off Kedzie Avenue on the southwest of Chicago. This was where it grew its nearly 40-year history from a small specialty bakery to one of the largest in North America.
“Today marks a historic day in our journey. We are excited to complete the sale to a new ownership group that is committed to supporting our growth over the long term,” commented Hag Chaudary, continued President and CEO. “We enter this new chapter with a strong balance sheet, a committed and highly competent team, and a tradition of producing delicious baked goods.”
37th Street Bakery, formerly GSB, produces over 150 varieties of croissants, danish and cinnamon rolls, feeding millions of people every week across the US and Canada. All finished foods are delivered to food service, retail, casual dining, health, education and quick serve restaurants.
“While we have a new name, we are grounded in a deep passion to produce the most delicious, buttery rich, flaky, golden croissants, sweet fruit filled danish and aromatic cinnamon rolls,” Mr Chaudary added.
Tricor Pacific Capital and 13th Floor Capital, the investors involved in the acquiring entity, said they were “thrilled” to have completed the acquisition.
“Haq Chaudary leads a capable and well-aligned team and the company operates in a growing product category, in which we have meaningful experience. As long-horizon, family office investors, we are excited to support 37th Street Bakery in its next chapter of growth.”
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