AVON, CONNECTICUT – JUNE 18, 2025 – Ironwood Capital is pleased to announce its subordinated debt and minority equity investments in Artisan Bakery (“Artisan”). Ironwood’s investment was in support of HC Private Investments’ (“HCPI”) acquisitions of Specialty Bakers and Snackwerks.

Specialty Bakers, located in Marysville, Pennsylvania, is a dessert manufacturing business that produces Dessert Shells, French Twirls and Ladyfingers for grocery chains across the U.S. Snackwerks, located in Battle Creek, Michigan, is a contract manufacturing business serving both established food brands and high growth customers. The combined business, Artisan Bakery, serves as a scaled provider of baked goods and snacks, combining in-store bakery and co-manufacturing operations.

HCPI executive advisor and Chairman of the Artisan Bakery board Kirk Trofholz said, “As grocery retailers continue to prioritize prepared foods to attract and increase foot traffic, we believe we are well positioned to offer in-store bakery customers a differentiated model to create leading indulgences with the highest quality ingredients and flexible packaging options serving both families and individual formats.”

“We are excited about the Artisan Bakery platform. Snackwerks brings an innovation focused team which will enable the combined business to bring products to market leveraging Specialty Baker’s extensive grocery customer base,” stated Ironwood Capital Partner Alex Levental. “HCPI and its Operating Partners have extensive experience running food businesses and executing on M&A strategies, which will act as a support system for the management team during this next phase of growth.”

About Artisan Bakery

Artisan Bakery is a baked goods and snacks manufacturer with in-store bakery and co-manufacturing capabilities for branded and private label products. For additional information, please visit: artisan-bakeries.com. 

About Ironwood Capital

Over 20 Years of Middle Market Investing

Ironwood Capital provides non-control junior capital to middle market companies across the U.S. The firm has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $50 million. Ironwood’s investments support business owners and financial sponsors in growth financings, recapitalizations, generational transitions and buyouts. For more information, please visit: ironwoodcap.com.

Media Contacts

Carolyn C. Galiette

Partner, Chairman, CIO

galiette@ironwoodcap.com 



Kimberly A. Craig

Vice President

Operations, Compliance & Investor Relations

craig@ironwoodcap.com

For more information,

please visit: ironwoodcap.com