Pinecrest Capital Partners announced that Cookies-n-Milk, a leading bakery and frozen dessert manufacturer based in McKinney, Texas, has been acquired by JTM Foods, a portfolio company of Tenex Capital Management.
Founded in 1993 by Mike and Cindy Blasko, Cookies-n-Milk has historically produced fully baked cookies, brownies, blondies and doughnut holes, and more recently has become a leader in the edible cookie dough category. Cookies-n-Milk’s products are sold across the U.S. through several channels, including convenience, grocery, foodservice and fast casual restaurants nationwide.
The new partnership with JTM Foods and Tenex Capital Management will provide Cookies-n-Milk with key support to continue to expand operations through its next phase of growth.
"We are so excited to be a part of the JTM/Tenex family,” Mike Blasko, founder of Cookies-n-Milk, said in the announcement. “Their teams bring strong leadership and specific industry experience that will enable Cookies-n-Milk to build off its current momentum and ensure that the Company continues its impressive growth trajectory. I was extremely impressed with the process that Pinecrest put together – I cannot thank them enough. They truly understood that CnM was an extension of our family, and they helped guide the process in a way that led to us finding the best possible partner."
Pinecrest served as the exclusive advisor to Cookies-n-Milk in this transaction. Pinecrest Senior Managing Director Barrett Kingsriter, Director Wes Romanowski, and Senior Associate Austin Jolesch served as the investment bankers on the transaction.
"Mike and Cindy have built a remarkable business that has become a true category leader in the dessert space,” Romanowski added in the announcement. “We were honored to work with them throughout this transaction. We're excited to see CnM partner with the JTM and Tenex teams to continue building the Cookies-n-Milk brand."