Houston Favorite Shipley Do-Nuts has a new owner. Private equity firm Peak Rock Capital has announced that it has bought the Shipley family business. The terms of the agreement were not disclosed.
Known for its donuts and kolaches, the Houston-based company has more than 300 locations in nine states. The acquisition will allow the company to grow with its existing franchisees and find new opportunities in other markets.
“My grandfather, father and I dedicated our lives to serving Shipley Do-Nuts, our franchisees and our guests. After extensive research, it became clear that Peak Rock Capital was the ideal manager of our business while looking for the next stage of growth, “said Lawrence Shipley III in a statement. “My family is excited to continue as investors in the company and we look forward to the incredible growth to come.”
With the purchase completed, Shipley retired from his position as president of the company. He will focus on other family investments, according to a statement.
“Shipley represents an exciting opportunity to invest in a beloved consumer brand with an established reputation for authenticity and quality,” added Peak Rock managing director Robert Strauss. “We are incredibly impressed with the franchise that the Shipley family built and look forward to partnering with the company’s management team to invest in its growth plan.”
Peak Rock Capital is a “mid-market private investment company” based in Austin, with investments in various businesses in the United States and Europe. Its other holdings include snack maker Halo Foods Ltd. and Turkey Hill, a company that makes ice cream and chilled drinks.
Shipley Do-Nuts is the most recent Texas brand acquired by a private equity firm. In November, Torchy’s Tacos announced that it has received a $ 400 million investment that will allow it to expand to another 10 states over the next four years. Chicago’s BDT Capital Partners acquired a majority stake in Whataburger in 2019 with plans to expand the brand.