The transaction includes the Minnesota-based Baldinger Bakery and its Canadian counterpart Sons Bakery, which will dramatically expand CHG’s bakery manufacturing capacity and deepen its footprint in the QSR space.
Founded in 1888, Baldinger-Sons produces items for several quick service restaurant majors, including McDonald’s, which it has supplied since the 1950s. The company has been family-owned for four generations and operates facilities in St. Paul; Brampton, Ontario and Calgary, Alberta.
John Buckles, CHG’s president and CEO, said, “I am very pleased to welcome the Baldinger and Sons bakeries to the CHG family.
“The company’s highly sophisticated manufacturing facilities and long-standing partnerships with blue-chip QSR customers are a great fit as we grow our combined company. I am confident the addition of Baldinger-Sons’ talented team will strengthen CHG’s leadership position in our markets and enhance our product offering for our customers.”
Pritzker Private Capital-owned CHG manufactures value-added grain-based and frozen food products for foodservice and retail customers around the globe. Upon completion of the sale, CHG will boast a 3,700-strong workforce, operating 27 manufacturing facilities in the US, Canada and Europe, as well as its corporate office in San Antonio, Texas.
“It was very important for us to find a partner who shares our values and vision for the future while providing the strength and stability to help propel our organisation for years to come,” said Steve Baldinger, CEO of Baldinger-Sons.
“I believe we have found that partner with C.H. Guenther & Son. Both Baldinger-Sons and CHG are rooted in entrepreneurial, innovative businesses.”
Strong family values
CHG’s chairman Dale Tremblay added the acquisition will create exciting growth and expansion opportunities, but both CHG and Baldinger-Sons will remain true to their family beginnings.
C.H. Guenther was founded in 1851, when Carl H. Guenther started a flour mill near Fredericksburg, Texas. The business moved to San Antonio in 1859 and was renamed Pioneer Flour Mills in 1898. The original name was readopted in 1999. It was acquired by Pritzker private Capital (PPC) in 2018.
Chris Trick, investment partner at PPC, said, “Baldinger-Sons is highly complementary with CHG’s strategy, culture, and values. We look forward to continuing our partnership with John, Dale, and the CHG team as they welcome Baldinger-Sons and drive continued growth for two strong family businesses.”
The Baldinger-Sons management team will continue with the business post-transaction.