The acquisition of Houston-based Shipley Do-Nuts by an affiliate of the private investment firm Peak Rock Capital was completed Jan. 6, the firm announced in a statement.
Shipley Do-Nuts was first established in 1936 by founder Lawrence Shipley Sr. and has since grown its presence with scores of franchise locations across nine states. The Shipley family continued managing the business until this year, when company President Lawrence Shipley III retired alongside the Peak Rock acquisition.
"My grandfather, father, and I have dedicated our lives to serving Shipley Do-Nuts, our franchisees and our guests. After an exhaustive search, it became clear that Peak Rock Capital was the ideal steward of our business as it pursues the next stage of growth. My family is thrilled to continue as investors in the company, and we look forward to the exciting growth to come," Shipley said in a statement.
Peak Rock, a middle-market firm investing in North American and European companies, is based out of Austin in the U.S. with offices in London and Brussels. According to the firm, the Shipley acquisition marks its 12th in the food, beverage and consumer sector in recent years; other companies in its portfolio include Louisiana Fish Fry, TNT Crust, Pretzels Inc., Turkey Hill and Halo Foods Ltd.
"This transaction further exemplifies Peak Rock's deep experience investing in founder and family-owned businesses and highlights our continued interest in attractive investments in the food, beverage, and multi-unit consumer sectors. We continue to seek consumer oriented platforms and acquisitions that we believe could benefit from our ability to drive rapid growth and performance improvement," Anthony DiSimone, Peak Rock's chief executive officer, said in a statement.
Shipley's serves dozens of varieties of its signature doughnuts and kolaches in addition to beverages such as coffee and juice. The company is headquartered at 5200 N. Main St., Houston, and now operates more than 300 restaurants in the U.S. including dozens in the Greater Houston area. 713-869-4636. www.shipleydonuts.com