CHICAGO, Nov. 27, 2012 (GLOBE NEWSWIRE) -- East Balt Inc. ("East Balt"), a leading global bakery company, announced today that it will be acquired by One Equity Partners ("OEP"). The transaction is expected to close before the end of 2012, subject to the satisfaction of regulatory approvals and customary closing conditions. "East Balt is a quality and service leader in the bakery industry and OEP is excited to help the company grow with its valued customers," said Thomas Kichler, Managing Director at One Equity Partners.
Frank Kuchuris, CEO of East Balt, commented, "We are pleased to be entering into a new chapter in East Balt's history. We believe that this partnership will create exciting opportunities for our company, our customers, and our employees. My management team looks forward to working with One Equity Partners to build a world-class enterprise."
About East Balt Inc.
Headquartered in Chicago, IL, East Balt is a global bakery business spanning four continents with 20 bakeries in 12 countries. East Balt has grown over the last 50 years through partnerships with leading food service organizations and with a dynamic portfolio of high quality products including buns, bagels, biscuits, English muffins, tortillas and breads. East Balt is recognized as a quality and innovation leader and is committed to driving the success of its customers.
About One Equity Partners
One Equity Partners is the private investment arm of JPMorgan Chase & Co. and manages more than $14 billion in commitments and investments solely for the bank. OEP enters into long-term partnerships with companies to create sustainable value through long-term growth driven both organically and inorganically. Founded in 2001, OEP has 39 investment professionals in New York, Chicago, Frankfurt, Vienna, Hong Kong and elsewhere around the globe. Visit www.oneequity.com for more information.
Ed Gin Chief Financial Officer 773-797-9326