Milwaukie company sells a big share to NY firm helping it expand outside the West
Daves Killer Bread is about to forgive the pun rise across the nation.
Dave Dahl, who launched his line of healthy breads in 2005 through his familys Southeast Portland bakery, has sold a big chunk of his company to Goode Partners of New York City in the first step toward a plan to expand sales outside the West.
We love that people want our bread in their stores, and weve been doing our best to meet demand in more states, Dahl said. Our first priority when we add a new market is to make sure that the quality of the bread is never compromised. Today, we are unable to ship bread farther and farther away from our Portland-area Breadquarters without sacrificing its quality.
The goal, Dahl told KPAM 860 on Friday morning, is to have Daves Killer Bread on store shelves in all 50 states. Click Here to listen to the KPAM 860 interview with Dave Dahl.
The bread is already available in 11 states, including Southern California, Hawaii and Colorado. The investment by Goode Partners is expected to expertise helping Daves Killer Bread scale its manufacturing and distribution. The goal is to maintain the products quality as the company expands outside the western states, Dahl said.
Our relationship with Goode Partners is going to give us additional resources and a top-shelf board member who knows exactly how to build a brand and grow nationally, he said. Together, were going to work to get our bread in the hands of new fans in new cities.
We think this brand is something special, so we jumped at the opportunity to partner with the Dahls, said Dan Bonoff, a partner at Goode Partners. We cant wait to work with the company to build on what has been accomplished and continue to introduce the bread and Daves inspiring story to new customers.
Daves Killer Bread bakes organic, whole grain, vegan and genetically modified organism-free bread products that began as part of the NatureBake family and spread across the region for the past seven years through sales from a booth at the Portland Farmers Market. Today, the company makes 16 varieties that are sold in every major grocery chain in 11 states.
Dahl said the companys headquarters would stay in Milwaukie. As part of the new partnership, Goode Partners is taking an equity stake in the company and will add three representatives to the board of directors, joining Chief Executive Officer Shobi Dahl, Dave Dahl and Glenn Dahl. The company also will add a new chairman, Angelo Fraggos, a 38-year veteran of the baking and snack food industry, who brings expertise needed to drive strategic direction and organizational development.
As a board, our chief focus will be to ensure the heart and mission of this company are uncompromised, Dave Dahl said. We believe the addition of Goode Partners and Angelo to our team will help drive our company to new heights.
Goode Partners is a private equity firm with offices in Manhattan and Arcadia, Calif. The company has invested in several well-known consumer brands, including Skullcandy, Intermix and Chuys.