Houston’s favorite Shipley Do-Nuts has a new owner. Private equity firm Peak Rock Capital has announced that it has bought the company from the Shipley family. The terms of the agreement were not disclosed.
Known for its donuts and rolls, the Houston-based company has more than 300 locations in nine states. The acquisition will allow the company to grow both with existing franchises and to find new opportunities in other markets.
“My grandfather, father and I have dedicated our lives to serving Shipley Do-Nuts, our franchisees and our guests. After a thorough search, it became clear that Peak Rock Capital was the ideal manager of our business as the next stage progressed. “My family is excited to continue as investors in the company and look forward to the exciting growth that will follow,” Lawrence Shipley III said in a statement.
Upon completion of the acquisition, Shipley resigned as president of the company. It will focus on other family investments, according to a statement.
“Shipley is an exciting opportunity to invest in a consumer-friendly brand with an established reputation for authenticity and quality,” added Peak Rock CEO Robert Strauss. “We are incredibly impressed with the franchise the Shipley family has built and look forward to partnering with the company’s management team to invest behind their growth plan.”
Peak Rock Capital is an Austin-based “mid-market private investment firm” with investments in various businesses in both the United States and Europe. His other farms include snack maker Halo Foods Ltd. and Turkey Hill, a company that makes ice cream and chilled drinks.
Shipley Do-Nuts is the latest Texas brand acquired by a private equity firm. In November, Torchy’s Tacos announced that it had received a $ 400 million investment, which would allow it to expand to 10 more states over the next four years. BDT Capital Partners of Chicago acquired a majority stake in Whataburger in 2019 with plans to expand the brand.