Sell-Side Advisor
Great Harvest
M&A Advisory
Has Been Acquired By
Transaction Details
- On October 1, 2024, NewSpring ("the Firm"), a family of private equity strategies, announced that NewSpring Franchise, the Firm's strategy dedicated to investing in innovative franchise and multi-unit concepts in large and growing markets, has completed an investment in Great Harvest Holdings, LLC ("Great Harvest" or the "Company") a franchised fast-casual bakery and café concept with approximately 175 locations across the U.S.
- Founded in 1976, Great Harvest provides fresh baked bread, baked goods, sandwiches, salads, soup, breakfast items, and coffee and other beverages across multiple dayparts. Great Harvest will use the proceeds of this transaction to enhance franchise development, supply chain, and marketing to accelerate growth.
- This is the fourth transaction from NSF II, NewSpring Franchise’s dedicated investment fund which targets capital-efficient, consumer-facing, multi-unit businesses with a strong customer value proposition, proven unit-level economics, and exceptional management teams in the lower-middle market. Other investments in the fund include Duck Donuts, Federal Donuts and Chicken, and Shake Smart.
About the company
Great Harvest
The Great Harvest Bread Company was founded in 1976 in Great Falls, Montana, based on a simple premise - make amazing bread with five simple ingredients (fresh milled whole wheat flour, fresh yeast, water, salt, and honey). In the early 2000s, Great Harvest pivoted to expand its product offerings beyond a bakery and transformed its operating model into a bakery café concept with the addition of sandwiches, soups, salads, and sweet treats. Today there are approximately 175 stores located across the United States, including Alaska and Hawaii. The essence of Montana that charmed early Great Harvest customers still influences the core of the corporate culture. Authenticity, a spirit of camaraderie, and individuality remain the foundation of the organization.
NewSpring
NewSpring is a lower-middle market focused private equity firm that partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com
Sources: Company Materials.
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