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Tate’s Bake Shop – Growth Story

Flour Power

Tate’s Bake Shop makes premium cookies and baked goods that deliver a homemade taste that consumers crave.

Riverside’s team helped the company dramatically expand its production, distribution and footprint. During a hold of just under four years, Tate’s became the fastest-growing premium cookie brand in the U.S. Tate’s grew from a regional player to a brand in more than 70% of all U.S. groceries, contracts with big-box stores and entry into the convenience market.

Riverside's Growth Strategy

Smart Cookies
Founder Driven
More Choices
Bigger and Better
The Price is Right
Realization

A Focus on Growth

Riverside knew that Tate’s offered superior products. The firm focused on building the scale and capabilities of the company to reach more consumers.

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Authenticity

Tate’s Founder Kathleen King remained with the company after Riverside invested, leading product development and PR efforts.

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Improved Warehousing and Inventory

Built a new building which houses both the warehouse and corporate offices.

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More Capabilities

Riverside boosted the Tate’s management team with a new CEO and CFO, followed by new leaders in Sales, Marketing, Operations, Plant Management and other key positions.

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New Flavors

Added more than 10 new flavors and formats, including Gluten-free, during Riverside’s hold period.

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New Sizes

Tiny Tate’s, a snack-sized bag of small cookies, opened the lucrative convenience and snack markets.

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ERP System

Tate’s needed better infrastructure to meet increasing demand.

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Manufacturing Improvements

Riverside helped Tate’s fund and complete upgrades that included new automated lines, and relocation of warehousing and offices.

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Driving Sales

Riverside helped Tate’s expand marketing and upgrade packaging, doubling the brand awareness of the company during the hold.

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Fair Value

The Riverside Operating Team and Riverside Toolkit advisors helped Tate’s leverage its strong market position to raise prices and increase profitability while continuing to gain market share.

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Happy Customers

Improved pricing also boosted the bottom lines for retailers, making them more motivated to promote Tate’s.

Sold to Mondelez International, one of the world’s largest snack companies in the world.

Dataimg 2014Investmentyear
Dataimg 2018Realization
Dataimg Industry CB
Invested
September 2014
Status
Exited
Industry
Consumer Brands
Region
North America
Business Unit
Riverside Micro-Cap
Strategy
Private Equity
Working with Riverside we saw growth in terms of top line sales as well as gross margin. Maura Mottolese | CEO

Growth Stories are not intended to be illustrative for investment purposes and should not be relied upon for investment decision making. This should not be considered an offer or solicitation of securities or investment services. Information is for informational purposes only and intended for General Partners or Management teams considering partnering with The Riverside Company.

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