Tenex Capital Management’s portfolio company JTM Foods has acquired bakery and frozen dessert manufacturer Cookies-n-Milk. According to Pinecrest Capital partners, it served as the “exclusive advisor” in the transaction.
First founded in 1993 by Mike and Cindy Blasko, Cookies-n-Milk has historically produced fully baked cookies, brownies, blondies and doughnut holes, and has more recently entered into the edible cookie dough category. The company’s products are sold across the US through several channels including convenience, grocery, food service and fast casual restaurants nationwide. The new partnership with JTM Foods and Tenex Capital Management will provide the manufacturer with key support to continue to expand operations during its next stage of growth.
“We are so excited to be a part of the JTM/Tenex family. Their teams bring strong leadership and specific industry experience that will enable Cookies-n-Milk to build off its current momentum and ensure that the Company continues its impressive growth trajectory,” said Mike Blasko, Founder of Cookies-n-Milk. “I was extremely impressed with the process that Pinecrest put together – I cannot thank them enough. They truly understood that CnM was an extension of our family, and they helped guide the process in a way that led to us finding the best possible partner.”
“Mike and Cindy have built a remarkable business that has become a true category leader in the dessert space. We were honored to work with them throughout this transaction,” added Wes Romanowski. “We’re excited to see CnM partner with the JTM and Tenex teams to continue building the Cookies-n-Milk brand.”
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