Let them buy cake.
After years of rapid growth, former Las Vegas-based Nothing Bundt Cakes will be acquired by private equity firm KKR for over $2 billion, The Wall Street Journal reported.
The bakery founded in 1997 in Las Vegas by friends Dena Tripp and Debbie Shwetz is the nation’s largest specialty cake company. Their children, Jenna Lamb and Sean Tripp, separately are franchise owners. The now Dallas-based company sold to Roark in 2021.
The largely franchised bakery chain expects to generate around $120 million in earnings before interest, taxes, depreciation and amortization this year, Reuters reported.
Its 800th location opened April 15 in East Bakersfield, California.
—Erin Edgemon
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