The capital provided by HCAP will further strengthen our competitive position in the market and allow us to continue to provide our customers with excellent service.
San Diego, CA (PRWEB) August 01, 2017
HCAP Partners, a California-based private equity firm and recognized impact investor, today announced that it has completed a mezzanine debt investment in Baked in the Sun, Inc. (“BITS”) to help facilitate BITS’ acquisition of S&S Bakery and expansion into new markets. Frank Mora, Partner, and Nicolas Lopez, Principal, led the transaction for HCAP Partners.
Baked in the Sun manufactures quality, fresh and frozen baked goods products for coffee houses, supermarkets, big box retailers, food service, hotels, hospitals, and schools. The Company operates out of a state-of-the-art, British Retail Consortium (BRC) food safety certified facility and distributes directly to customers throughout Southern California (San Diego to Los Angeles) and Las Vegas via the Company's own fleet of delivery trucks and nationally throughout the United States via distributors.
Rachel Shein, co-founder and CEO of BITS, commented, “We at BITS are excited about our new partners. The capital provided by HCAP will further strengthen our competitive position in the market and allow us to continue to provide our customers with excellent service. Additionally, we will be able to strengthen our new product innovation that the Company is known for in the industry.”
Frank Mora commented, “We are excited to work with the Baked in the Sun team and have been very impressed with what they have been able to accomplish in becoming a leading provider of fresh daily delivery bakery products. This investment in BITS reflects our continued goal to back outstanding management teams with strong track records and a credible strategy to drive growth.”
About Baked in the Sun
BITS was founded in 1997 when CEO Rachel Shein purchased House of Tudor Bakery, a small manufacturer of scones. The business name changed to Baked in the Sun and it has grown to become the leading commercial bakery in San Diego, manufacturing and distributing fresh baked goods daily. Today BITS manufactures quality fresh and frozen baked goods products for coffee houses, supermarkets, big box retailers, food service, hotels, hospitals, and schools. Operating out of a state-of-the-art, British Retail Consortium (BRC) food safety certified facility in Vista, California, BITS distributes directly to customers throughout Southern California (San Diego to Los Angeles) and Las Vegas via the Company's own fleet of 18 delivery trucks, and nationally throughout the remainder of the United States via distributors. BITS has attained Global Food Safety Initiative (GFSI) certification under the BRC 7 food auditing scheme and is certified Kosher by the Rabbinical Council of Kosher LA Organization. BITS is also certified as a Woman‐Owned and a Disadvantaged Business Enterprise (DBE) by the California Unified Certification Program (CUCP). For more information, please visit http://www.bakedinthesun.com or call (760) 591-9045.
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $2 million to $9 million in established businesses generating between $10 million and $75 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since it was founded and through ongoing, active engagement with portfolio companies the team at HCAP Partners provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund four years running and, through its Gainful Jobs Approach, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. Partners Tim Bubnack, Morgan Miller, Frank Mora along with Principals Hope Mago and Nicolas Lopez lead HCAP Partners’ investment team. For more information, please visit http://www.hcapllc.com or call (858) 259-7654.