Cision PR Newswire
Pinecrest Serves as Exclusive Financial Advisor to Cookies-n-Milk
News provided byPinecrest Capital Partners
Jan 24, 2023, 8:00 AM ET
Leading Baked & Frozen Dessert Manufacturer Completes Recapitalization with JTM Foods
DALLAS, Jan. 24, 2023 /PRNewswire/ -- Pinecrest Capital Partners ("Pinecrest") is proud to announce that Cookies-n-Milk ("CnM"), a leading bakery and frozen dessert manufacturer based in McKinney, Texas, has been acquired by JTM Foods ("JTM"), a portfolio company of Tenex Capital Management ("Tenex"). Pinecrest served as the exclusive advisor to Cookies-n-Milk in this transaction.
Founded in 1993 by Mike and Cindy Blasko, Cookies-n-Milk has historically produced fully baked cookies, brownies, blondies, and doughnut holes, and more recently has become a leader in the edible cookie dough category. CnM'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 Cookies-n-Milk with key support to continue to expand operations through its next phase of growth.
Pinecrest Senior Managing Director Barrett Kingsriter, Director Wes Romanowski, and Senior Associate Austin Jolesch served as the investment bankers on the transaction.
"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."
Patrick Ryan and Dean Gould from Dykema Gossett PLLC served as the seller's legal counsel for the transaction.
Testimonials may not be representative of the experience of other customers and are no guarantee of future performance or success.
Barrett Kingsriter and Bobby Renkes are registered representatives of Securities and Investment Banking Services, offered through BA Securities, LLC Member FINRA SIPC. Pinecrest Capital Partners and BA Securities, LLC are separate and unaffiliated entities.
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SOURCE Pinecrest Capital Partners