Investor-backed Maple Donuts appoints Greg Somerville as CEO
Maple Donuts, a portfolio company of Swander Pace Capital, has appointed Greg Somerville as the US-based bakery company’s CEO.
Somerville was most recently president and CEO of the US subsidiary of Savencia Fromage & Dairy headquartered in Paris. He has also held executive positions at dairy business Land O’Lakes, The Pillsbury Company now owned by US food major General Mills, and FMCG giant Unilever.
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“This leadership transition marks a pivotal moment for the Pennsylvania-based manufacturer as it enters its next phase of accelerated growth and market expansion,” Swander Pace Capital, which acquired Maple Donuts in the summer, said in a statement today (23 October).
Founded in 1946 by the Burnside family, Maple Donuts produces private-label doughnuts for the retail channel and also supplies foodservice in the US.
Luke Burnside, who is now the vice provident for sales, said: “Greg’s extensive experience scaling CPG platforms and his deep expertise in channel development make him the ideal leader for Maple Donuts’ next growth chapter.
“His customer-first mindset and operational acumen will strengthen our partnerships across the retail and foodservice channels while accelerating our market expansion.”
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By GlobalDataJust Food has asked Swander Pace Capital for more details on the expansion programme and whether new markets and customers are in the pipeline as Somerville described Maple Donuts as being at an “exciting inflection point”.
Tyler Matlock, a managing director at the private-equity firm and also Maple Donuts’ board chair, added: “Greg’s appointment represents a strategic milestone in Maple Donuts’ evolution. The Burnside family have been tremendous stewards of Maple Donuts and we want to continue that legacy.”
Swander Pace Capital did not reveal the financial terms of the transaction for Maple Donuts earlier this year.
Previous acquisitions struck by the investor and which are still part of its portfolio include: Boulangerie St. Méthode; Café Valley; Inovata Foods; Purely Elizabeth; Mighty Spark; Alden’s Organic; and Bragg Live Foods.
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