D.A. Davidson Advises J. Skinner Baking in Its Sale to Stellex Capital Management

IRVINE, Calif.--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it served as financial advisor to The James Skinner Baking Company (“J. Skinner” or the "Company”), in connection with its sale to Stellex Capital Management (“Stellex”), a private equity firm with more than $2.6 billion in committed capital under management that invests in middle-market companies in North America and Europe. Headquartered in Omaha, Nebraska, J. Skinner provides ready-to-eat baked goods through grocery in-store bakeries (“ISB”), foodservice providers and co-pack partnerships.

Since its founding in 1983, J. Skinner has grown into one the largest ISB providers in the U.S., selling its products through over 30,000 locations in all 50 states. J. Skinner has built a reputation for producing best-in-class, artisan baked sweet goods including danishes, muffins, cinnamon rolls, brownies and bars. Stellex’s partnership with the Company will support additional investment into production capacity expansion, increased automation and new product development.

“I’m thrilled to partner with Stellex on the next chapter in J. Skinner’s growth,” said Audie Keaton, CEO of J. Skinner. “D.A. Davidson was an essential partner in helping advise J. Skinner through this transformational partnership. Their deep understanding of our business, valuable advice and tenacity throughout the process were critical to a successful outcome for the business.”

“J. Skinner is one of the preeminent ISB platforms in the country and we’re delighted and appreciative to have had the opportunity to work with Audie and the rest of the J. Skinner team on this transaction,” said Danny Friedman, Managing Director at D.A. Davidson. “We’re excited to see what J. Skinner is able to accomplish with the added expertise and resources that Stellex will bring to the business.”

“J. Skinner and Audie Keaton have been pillars of the Nebraska business community,” said John Decker, Managing Director and Head of Business Advisory Services at D.A. Davidson. “This transaction represents another successful outcome for a Nebraska-based client and demonstrates our commitment to serving companies throughout the state.”

D.A. Davidson’s Consumer Investment Banking Group has an established reputation advising preeminent brands through leveraging its deep industry knowledge, broad range of capabilities and unparalleled commitment from its senior professionals, who lead each client engagement. The Consumer Group has extensive experience serving middle-market companies across a broad spectrum of consumer segments such as food & beverage, consumer products, ecommerce and marketplaces, consumer & business services, and outdoor & active lifestyle. Our team's continued leadership in mergers and acquisitions and capital formation, complemented by a veteran debt advisory practice, allows D.A. Davidson’s Consumer team to provide comprehensive debt and equity solutions to clients across a variety of specialized subsectors within each of its core segments.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 29 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.

For more information, visit dadavidson.com.