McKinney-based bakery and dessert manufacturer Cookies-n-Milk has been acquired by Ohio-based JTM Foods, a portfolio company of Tenex Capital Management, a New York City-based investment firm.
Dallas-based Pinecrest Capital Partners served as exclusive adviser to Cookies-n-Milk in the deal. No financial terms of the deal were released.
Founded in 1993 by Mike and Cindy Blasko, Cookies-n-Milk historically has produced fully baked cookies, brownies, blondies, and doughnut holes, and recently has become a leader in the edible cookie dough category.
Its products are sold across the nation in such places as convenience and grocery stores, food service, and fast casual restaurants. The new partnership with JTM Foods and Tenex Capital Management will provide Cookies-n-Milk with key support to continue to expand operations through its next phase of growth, Pinecrest said.
Building off ‘current momentum’
Pinecrest Senior Managing Director Barrett Kingsriter, Director Wes Romanowski, and Senior Associate Austin Jolesch served as the investment bankers on the transaction.
“We are so excited to be a part of the JTM/Tenex family. Their teams bring strong leadership and specific industry experience that will enable Cookies-n-Milk to build off its current momentum and ensure that the Company continues its impressive growth trajectory,” Mike Blasko said in a statement. “I was extremely impressed with the process that Pinecrest put together – I cannot thank them enough. They truly understood that CnM was an extension of our family, and they helped guide the process in a way that led to us finding the best possible partner.”
Romanowski touted Cookie-n-Milk’s success.
“Mike and Cindy have built a remarkable business that has become a true category leader in the dessert space. We were honored to work with them throughout this transaction,” Romanowski said in a statement. “We’re excited to see CnM partner with the JTM and Tenex teams to continue building the Cookies-n-Milk brand.”
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