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Deloitte Corporate Finance Advises Cake Franchisor in Sale to Levine Leichtman

November 18, 2016, 07:22 AM

Deloitte Corporate Finance LLC (DCF) acted as the exclusive financial advisor to Nothing Bundt Franchising LLC (Nothing Bundt Cakes), a leading franchisor and distributor of specialty desserts, in its sale to Levine Leichtman Capital Partners (LLCP). The transaction closed on Sept. 30, 2016.

Founded in 1997, Nothing Bundt Cakes established an innovative, specialty retail concept featuring handmade, premium-quality bundt cakes. With a variety of desserts and products presented to consumers through a retail format that emphasizes nostalgic origins and homespun goodness, the company's unique approach has enabled them to grow into a nationwide franchise with nearly 200 locations. The acquisition will enable Nothing Bundt Cakes to leverage LLCP's extensive experience in the franchising space and continue expanding the concept's geographic footprint and consumer reach.

"Deloitte Corporate Finance provided invaluable support and advice throughout a complex, yet rewarding, transaction process," said Debbie Shwetz, co-founder, Nothing Bundt Cakes. "They effectively navigated the intricacies associated with a quickly growing franchise and helped to position Nothing Bundt Cakes as a true leader in the specialty dessert retail space."

"DCF assisted us in finding a fantastic partner that will enable our continued growth and build upon the successes we have had over the past two decades," said Dena Tripp, co-founder and chairperson, Nothing Bundt Cakes. "We are thrilled to be taking this next step in the evolution of our company."

"Nothing Bundt Cakes' founders and management team have successfully executed on a significant growth plan, establishing a leading brand with loyal customers across the country," said Lorin DeMordaunt, managing director and consumer and retail group leader, Deloitte Corporate Finance LLC. "We were excited to assist them throughout the process and to help the team realize an important and gratifying outcome."

Nothing Bundt Franchising LLC operates as a leading franchisor and distributor of premium-quality, specialty desserts across the country. Nothing Bundt Cakes has developed a loyal consumer base as a result of the gourmet quality and versatility of its product portfolio, as well as the unique gift food association with the brand. With its corporate headquarters in Addison, Texas, Nothing Bundt Cakes currently has 195 franchise locations across the United States.

Established in California in 1984 by Arthur Levine and Lauren Leichtman, Levine Leichtman Capital Partners (LLCP) has managed roughly $7.5 billion of institutional capital since inception. LLCP focuses investments in middle-market companies throughout the United States and Europe and employs a philosophy of investing alongside entrepreneurs and founders who have a long-term stake in their company and desire substantial continued equity ownership. The firm has offices in Los Angeles, Dallas, Chicago, New York, London and The Hague.

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