Austin-based private equity firm gobbles up iconic Texas doughnut shop
Austin-based private equity firm gobbles up iconic Texas doughnut shop Shipley Do-Nuts has been sold. Texas iconic Shipley Do-Nuts has a new owner. The Austin-based private equity firm Peak Rock Capital announced it has purchased the company from the Houston-based Shipley family. Terms of the deal were not disclosed. Known for its doughnuts and kolaches, the company has over 300 locations in nine states, including seven in Austin. The acquisition will allow the company to grow with both its existing franchisees 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 an exhaustive search, it became clear that Peak Rock Capital was the ideal steward of our business as it pursues the next stage of growth, Lawrence Shipley III said in a statement. My family is thrilled to continue as investor