NEW YORK, May 21, 2014 — Carl Marks Securities LLC, served as exclusive financial advisor to the shareholders of Tribeca Oven, Inc., a New Jersey-based manufacturer of artisan breads and rolls in its acquisition by C.H. Guenther & Son (CHG). Financial terms were not disclosed.
“Warren Feder of Carl Marks put together an innovative deal structure that rewarded the substantial value created by our shareholders and allowed for my colleagues Marc Essenfeld (CEO) and George Erasmus (EVP of Innovation) to join a like-minded, aggressive partner to grow the business into new markets and territories,” said Peter Lobel, founder of Tribeca.
Mr. Essenfeld and Mr. Erasmus will continue to run Tribeca and Mr. Lobel will remain as a consultant to Guenther, as the Company will now have ten production facilities in the U.S., three in Canada and three in Europe as a result of the acquisition.
“This acquisition is a great strategic move for both companies, as their strengths complement one another,” said Warren Feder, partner of Carl Marks. “We look forward to watching the popularity of delicious, all-natural artisan breads spread around the globe via this newly-formed powerhouse in the industry.”
In 1981, Mr. Lobel came to New York City from Zimbabwe. At the time, awareness and appreciation for authentic rustic artisan bread was starting to blossom in America, and Lobel was at the heart of it with his vision – blending the experience he gained in America with 50 years of family tradition.
In 1988, Mr. Lobel moved his Upper East Side retail bakery store to the Tribeca area of downtown Manhattan to focus on the wholesale operation and moved again in 1997 to Brooklyn to expand production capacity. As demand for its artisan bread grew, Tribeca Oven relocated in 2004 to a larger bakery across the river in northern New Jersey, where Tribeca continues to use the same traditional, hand crafted bread-baking techniques that thrilled its original customers to produce award winning par baked and frozen breads.
“We strongly believe that with CHG resources and depth, coupled with the strengths of Tribeca, we can accelerate the already strong growth and expansion of the business,” said CHG president and CEO Dale Tremblay.
About Carl Marks Securities
Carl Marks Securities LLC, the broker-dealer affiliate of Carl Marks Advisor Group LLC, provides financial advisory services related to private placement of debt and equity capital. Serving middle market companies, we provide a broad range of capital market alternatives as they seek financing for growth, mergers or acquisitions, restructurings or other purposes.
Carl Marks Securities LLC is a member FINRA and SIPC. Additional information about Carl Marks Securities LLC and Carl Marks Advisory Group LLC and is available at www.carlmarksadvisors.com.
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