Exclusive financial advisor to Cole's Quality Foods

KPMG Corporate Finance LLC (“KPMG CF”) is pleased to announce the sale of Cole's Quality Foods (“Cole's” or the “Company”) to Furlani Foods (“Furlani”), a portfolio company of Entrepreneurial Equity Partners (“e2p”).

Established in 1943 and headquartered in Grand Rapids, Michigan, Cole’s is a leading manufacturer of frozen baked products and is known for introducing frozen garlic bread to the North American market. Today, Cole’s offers its customers both branded and private label products, including garlic bread, Texas toast and breadsticks. The Company has built a strong legacy of delivering great-tasting, high-quality products for over 80 years and currently operates two facilities in Muskegon, Michigan and North Liberty, Iowa. Cole’s is a trusted partner for many of the largest and most respected retailers, selling its branded products under the Cole’s brand.

“We are proud to bring Cole’s, its brand, and its long history into the Furlani family,” said Jonathan Kawaja, CEO of Furlani. “Combining these companies means we can bring our customers an expanded product line, greater capacity, and improved service. It supports our ability to grow, ensuring a bright future.”

Furlani believes that bringing these two brands together, with their collective production capabilities, will drive efficiencies and innovation that will benefit customers. The company will continue to operate as Furlani with the Cole’s brand remaining as an important growth driver for the business.

“This acquisition is a combination of two enduring, family-founded companies and trusted consumer brands. We are aligned on dedication to customer service, quality, innovation, and sustainability. This is good news for the future of the Company, our customers and ultimately our consumers,” said Scott Devon, CEO of Cole’s.

About Cole's Quality Foods

Founded in 1943, Cole’s is based in Grand Rapids, Michigan and operates manufacturing facilities in Muskegon, Michigan and North Liberty, Iowa. It serves leading grocery chains, club stores and other retailers offering a diverse array of branded and private label frozen bread products. Throughout its 80-year history of growth and innovation, the company has remained a family-owned business.

About Furlani Foods

Founded in 1984 in Mississauga, Ontario as a processor of garlic spreads and purees, Furlani has since transformed into a recognized specialist in garlic bread, breadsticks, garlic toast, and garlic rolls manufacturing and distribution. In 2023, Entrepreneurial Equity Partners invested in Furlani alongside the Kawaja family.

About Entrepreneurial Equity Partners

Entrepreneurial Equity Partners is a Chicago-based middle market private equity firm focused on control-oriented investments in the food and consumer packaged goods industries. e2p’s team includes experienced food and consumer packaged goods executives and investors who bring an entrepreneurial mindset and extensive industry network to support and collaborate with portfolio company teams.