Carolina Foods gets financial boost to take private label sweet baked goods capacity to next level
Carolina Foods produces enough doughnuts annually to circle the globe twice. Pic: GettyImages/sara winter Private equity firm Falfurrias Capital Partners has made an undisclosed investment in the manufacturer that produces nearly a million honey buns daily, as well as enough doughnuts each year to circle the globe twice.
Carolina Foods was founded in 1934 and has grown into one of the leading wholesale bakeries in the US, operating out of multiple locations across Charlotte, including a 100,000 sq. ft. manufacturing facility in Charlotte’s South End.
Carolina Foods dates back to 1934
Carolina Foods, a baked goods manufacturer in the US state of North Carolina, has attracted investment from local private-equity firm Falfurrias Capital Partners.
Falfurrias, which also owns the Duke s Mayonnaise and spices and sauces producer Sauer Brands in Virginia, did not disclose the investment amount or potential stake it has taken in Charlotte-based Carolina Foods, a business founded in 1934 employing around 400 people. The private-equity firm, which is located in the city of Charlotte, also counts popcorn seasoning firm Chicago Custom Foods in its portfolio.
Carolina Foods CEO Paul Scarborough, the son of late founder Vernon Scarborough, will remain with the company, as will third-generation leaders Katie Scarborough Caldwell and Ruffin Scarborough, according to a statement from Falfurrias.