ST. PAUL, MINN. – Dessert Holdings announced the acquisition of Steven Charles —A Dessert Co., an Aurora, Colorado-based gourmet dessert maker providing foodservice and retail customers across North America. Financial terms of the transaction were not disclosed.
“As the leading premium dessert platform in North America, we invest behind category-defining dessert makers like Steven Charles to help them reach their full potential,” said Paul Lapadat, Managing Director of Dessert Holdings. “Steven Charles has a heritage of creating and marketing award-winning desserts and this commitment to excellence in innovation and service has fostered long-standing relationships with a number of leading foodservice and sales operators in the world. retail in North America. We see an incredible opportunity to complement these strengths to support Steven Charles’ national growth while also investing to grow the business globally.
Dessert Holdings, which was acquired earlier this year by Bain Capital Private Equity, offers products under three brands: The Original Cakerie, Lawler’s Desserts and Atlanta Cheesecake Co.
The Original Cakerie, founded in 1979, is a dessert maker based in Vancouver, British Columbia, and London, Ontario. Lawler’s Desserts, founded in 1976, is a manufacturer of gourmet cheesecakes, layer cakes, pies and other premium desserts based in Humble, Texas. Atlanta Cheesecake Co., founded in 1988, is a premium fusion cheesecake and dessert maker based in Kennesaw, Georgia. Together, the brands serve more than 250 customers in the United States, Canada, Mexico, the Caribbean, South America and Asia.
“With our investment in Dessert Holdings, we are privileged to support Paul and his team in building the leading premium dessert manufacturing company in North America, and the Steven Charles acquisition fits that vision perfectly.” said Adam Nebesar, Managing Director of Bain Capital Private Equity. “We look forward to partnering with Rebecca and the Steven Charles team to support their ambitions for growth. “
By partnering with Dessert Holdings, Steven Charles will have access to a platform and resources to continue to develop innovative dessert products on a large scale for his blue chip customer base.
“Dessert Holdings has a complementary product portfolio to ours and brings capital and expertise that will help us accelerate our growth journey,” said Rebecca O’Hara, President of Steven Charles. “Steven and Charles are proud and excited to hand the business over to the able hands of Dessert Holdings, who will continue to appreciate what makes Steven Charles so special as we are aligned with a strategy that upholds our commitment to culinary innovation and a extraordinary service for our demanding customers.
Steven Charles (formerly Steven Robert Original Desserts) started operating under his new name in January 2021. According to the company, the name change pays homage to Steven Fabos, founder and co-CEO, and Charles Kosmont, president and co-CEO, while building on its history of desserts.
Mr. Fabos founded the company in 1995 in a one-room bakery in Los Angeles. As demand for the company’s cheesecakes increased, Mr. Fabos expanded the business over the next 10 years, opening large-scale commercial bakeries in Aurora, Colorado, and Pembroke, North Carolina. In 2004, Mr. Kosmont, a Venezuelan immigrant with a passion for agriculture and anxious to find fresh ingredients, joined the company.