Grain Craft Announces Strategic Acquisition by Redwood Capital Investments

Grain Craft, the nation’s largest independent flour miller, announced Thursday that its parent company has entered into a definitive agreement for Grain Craft to be acquired by Redwood Capital Investments, LLC. Terms of the transaction were not disclosed.

Based in Baltimore, Maryland, Redwood Capital Investments is a permanent holding company with a proven track record of investing in long-standing family businesses across a variety of industries.

“We are extremely pleased to partner with Redwood and look forward to continuing to grow our business together,” said Peter T. Frederick, President and CEO of Grain Craft. “Redwood is the ideal long-term home for the nation’s largest independent miller. They have a clear understanding of the business, its principles and management’s long-term strategy to create value for all stakeholders. »

As a premier flour miller, Grain Craft supplies premium bulk and bagged flours to 13 milling locations across the United States. The company also has a corporate headquarters in Chattanooga, a satellite office in Overland Park, Ks., and the Grain Craft Innovation & Quality (GCIQ) lab in Manhattan, Ks. After the acquisition is complete, Grain Craft will continue to operate as an independent business.

Grain Craft is currently owned by G&L Holdings, a family holding company. Prior to the formation of Grain Craft, the Grizzard and Labbe families, along with Grain Craft President Charlie Stout, spent several decades building leading milling businesses under the Milner Milling and Pendleton Flour Mills banners. G&L led the creation of Grain Craft in 2014 with the acquisition of Cereal Food Processors and the merger with Milner Milling and Pendleton Flour Mills.

The transaction, which is expected to close in the third quarter of 2022, is subject to customary closing conditions and regulatory approval. BDT & Company served as financial advisor and Eversheds Sutherland (US) LLP served as legal advisor to G&L Holdings. Venable LLP served as legal counsel to Redwood.