Daily Camera (Boulder)

Farm & Oven Snacks ac­quired,

- By Lu­cas High Business · North Carolina · Stanford University · Wal-Mart · Krispy Kreme Doughnuts, Inc. · Eurazeo · The Jewel Companies, Inc.

Farm & Oven Snacks Inc., a Boul­der-based soft-baked-cookie man­u­fac­turer that in­cor­po­rates veg­eta­bles into its recipes, was ac­quired by North Carolina’s Dewey’s Bak­ery Inc.

Farm & Oven’s co-founders Mike Se­nack­erib and Kay Allison will join Dewey’s ex­ec­u­tive team, with Se­nack­erib serv­ing as CEO and Allison as chief mar­ket­ing of­fi­cer. Dewey’s board chair­man and ma­jor­ity owner Scott Liven­good will run the com­pany’s re­tail op­er­a­tions, ac­cord­ing to a Farm & Oven news re­lease.

The Farm & Oven deal co­in­cides with an in­vest­ment in Dewey’s by French pri­vate eq­uity firm Eu­razeo.

Terms of the ac­qui­si­tion were not dis­closed. The Win­ston-salem Jour­nal re­ported this week that the Eu­razeo in­vest­ment is $25 mil­lion.

“All of us at Dewey’s could not be more thrilled to be part­ner­ing with Eu­razeo on this ex­cit­ing new chapter of growth for our com­pany,” Liven­good said in the re­lease. “Dewey’s has es­tab­lished a strong pres­ence in both spe­cialty food re­tail­ers and su­per­mar­kets across the coun­try driven by our sec­ondto-none prod­ucts, ca­pa­bil­i­ties, and team. With the added help of Eu­razeo’s deep re­sources and know-how, and Mike and Kay’s proven lead­er­ship, we aim to be­come a leader in our cat­e­gory in the years ahead. This trans­ac­tion is the cul­mi­na­tion of sev­eral months of plan­ning and dis­cus­sion with the Eu­razeo Brands team.”

Farm & Oven launched in De­cem­ber 2017, and prod­ucts are avail­able in re­tail­ers such as Wal­mart, Sprouts and Jewel Food Stores, as well as through e-com­merce chan­nels, the re­lease said.

Liven­good is a former CEO of Krispy Kreme Dough­nuts Inc. who was dis­missed in 2005 from that role amid a fed­eral in­ves­ti­ga­tion into the com­pany’s ac­count­ing prac­tices. He bought a ma­jor­ity share in Dewey’s a year later.

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