Orem, UT – May 7, 2021 Kneaders Bakery & Cafe (“Kneaders”, “the Company”), a Utah-based, fast casual bakery and café concept, announced that it has received a significant investment from Garnett Station Partners that will enable Kneaders to refinance its existing debt. Terms of the transaction were not disclosed.

Kneaders Bakery & Café was founded in 1997 by Gary and Colleen Worthington as a way to serve their community through delicious, scratch made breads, sandwiches, salads, soups and pastries. Kneaders restaurants are made to provide guests with a comfortable, inviting place to spend time with family and friends while enjoying unique creations made with the highest quality ingredients. Guests can enjoy Kneaders at any time of day from the signature Chunky Cinnamon French Toast in the morning to a crisp salad at lunch to hearty soup and sandwich for dinner…and a decadent pastry at any time of day. In addition to serving their valued guests, the Kneaders team also strives to enhance the lives of their crew members and the communities where they live. It’s not just about delicious bread, although that does make everything better.

The Company currently operates 54 locations across Arizona, Colorado, Nevada, New Mexico, Texas, and Utah and operates an adaptable business model that has proven successful in both on- and off-premise with drive-thru windows in almost all locations and a revamped mobile app for convenient online ordering that allowed Kneaders to quickly pivot and see early success in the new COVID-19 business environment.

Howard Norowitz, Partner and Head of Debt Capital Markets at Garnett Station, said, “We are extremely pleased to be partnering with the Kneaders team to provide access to capital and to help them grow and realize their full potential.”

“We are delighted to have served as advisor for Kneaders,” said Bill Kraus, Managing Director at Arlington Capital Advisors. “This is a tremendous outcome for an extremely strong brand, and we look forward to following the company as it continues to grow across the region.”

Principals of Arlington Capital Advisors served as exclusive financial advisors to Kneaders Bakery & Café, acting as registered securities agents of Arlington Capital Services, LLC, member FINRA / SIPC.

About Kneaders Bakery & Café
Kneaders Bakery & Café was founded by Gary and Colleen Worthington in 1997 in Orem, Utah. It’s an award-winning, fast-casual restaurant that uses only the highest quality ingredients to create fresh European hearth bread, delicious sandwiches, mouth-watering pastries, hearty soups, and refreshing salads, all made in-house each day. All Kneaders restaurants have a retail section and offer a variety of custom-made and themed gift baskets in addition to providing catering services. Kneaders Bakery & Cafe currently operates locations in six states. For more information, visit www.kneaders.com.

About Garnett Station Partners
Founded in 2013 by Managing Partners Matt Perelman and Alex Sloane, Garnett Station Partners manages more than $750 million of capital and focuses on growing franchised, consumer and services businesses. The firm has established a strong track record of partnering with franchisors, founders, and experienced management teams to enhance growth and build value.
For more information on Garnett Station Partners, visit www.garnettstation.com.

About Arlington Capital Advisors
Arlington Capital Advisors is a boutique investment bank that specializes in providing middle-market businesses with advisory services. Arlington focuses on providing strategic advice to its clients including sell-side and buy-side mergers and acquisitions, sourcing growth capital, minority recapitalizations, debt raises and other capital-centric strategic alternatives for businesses across a wide array of industries with a specific focus and expertise in consumer businesses. Securities offered through Arlington Capital Advisors Services, LLC.
For more information on Arlington Capital Advisors, visit www.arlingtoncapitaladvisors.com.

Kneaders Bakery & Cafe

has received an investment from
2021

Diageo announces it has acquired Far West Spirits LLC, owner of the Lone River Ranch Water (‘Lone River’) brand. Lone River is a hard seltzer that takes inspiration from the popular classic Texan “Ranch Water” cocktail. Lone River was founded in 2019 by native Texan, Katie Beal Brown. Katie will retain a minority interest and continue to lead the business on a day to day basis, as Chief Executive Officer of the brand. She will work closely with Diageo North America leadership to build further on Lone River’s success.

Read full press release from Diageo

Lone River Beverage Company

has been acquired by
2021

BIRMINGHAM, AL – Arlington Capital Advisors, a leading consumer-focused investment bank, announces it has hired Ashish Seth as a Managing Director.  Ashish joins Arlington’s Bill Kraus, John Goldasich and Vann Russell as leaders in the consumer sector where Ashish will be exclusively focused on driving forward the firm’s leadership position in the restaurant space.   

“We are thrilled to have Ashish join the Arlington team,” said Vann Russell, Arlington’s founder and Managing Director.  “Ashish’s reputation, relationships and singular focus in the restaurant sector is a great complement to our restaurant team.  His addition and leadership in the restaurant practice will further solidify Arlington’s position as a trusted advisor to leading consumer brands.” 

“Arlington’s entrepreneurial spirit and reputation in the restaurant market, particularly with premium brands and emerging growth concepts where I have spent my time, were key factors in joining the team,” said Seth. “Arlington’s platform and demonstrated success in the consumer space provide a lot of opportunities for growth and success.” 

Prior to joining Arlington, Ashish worked in the Food, Consumer & Retail practice at BMO Capital Markets where he led the firm’s restaurant practice as well as the fitness and consumer experiential sectors. Ashish has over 17 years of investment banking experience and has completed numerous advisory and equity and debt underwritings for clients at leading firms, including RBC, Merrill Lynch, and Bank of America. Ashish graduated from Indiana University, Kelley School of Business.  Ashish can be reached at aseth@arlingtoncapitaladvisors.com or (917) 885-1033.

In addition to Ashish, Arlington has also added two new analysts to its growing team: Jack Brennan and Hall Massey.  Jack joins the firm from Pathway Capital Management and graduated from the University of Alabama.  Hall spent time with Warren Averett prior to coming to Arlington and is also a graduate of the University of Alabama. 

Arlington Capital Advisors is a boutique investment bank that specializes in providing businesses in the consumer sector with financial and strategic advisory services. Arlington focuses on providing strategic advice to its clients, including sell-side and buy-side mergers and acquisitions, sourcing growth capital and other capital-centric strategic alternatives.  Securities offered through its affiliate, Arlington Capital Services, LLC, member FINRA/SIPC.

Birmingham, AL – Arlington Capital Advisors, a leading consumer-focused investment bank, announced that it has hired Will Saxton into its Debt Capital Markets practice. Will joins restaurant finance veteran Bill Kraus on Arlington’s DCM team, and the group will be focused on helping clients and companies with a variety of debt capital services, including acquisition financing, refinancing existing debt, debt recapitalizations, working capital management, and growth financing opportunities.

“Will is a great addition to the growing Arlington team,” said Seton Marshall, Arlington’s President & COO. “We are seeing a wider and more diverse set of capital structure alternatives in the marketplace.  Will’s addition to the debt capital markets team marks a significant expansion in our capabilities and will accelerate the DCM practice’s growth and presence in the market.”

“I am excited to join the Arlington team and help continue to build its DCM practice,” said Saxton. “The firm’s impressive positioning and expertise in the consumer sector and the ways ACA outpunches its weight on transactions is what attracted me to the firm. The ability to bring a more diverse suite of products to our existing client base and expand the scope of new prospective clients should create interesting new opportunities and a compelling value proposition for our engagements.”

Prior to joining Arlington, Will worked in the Financial Sponsors Group at Credit Suisse in New York, where he executed over $30 billion of Leveraged Finance transactions for private equity clients. Will attended the University of Tennessee and holds JD and MBA degrees from the University of Arkansas and University of Virginia, respectively.

In addition to Saxton, Draper Newton and Griffin Walker have joined the Arlington team as analysts.  Draper is a recent graduate from Auburn University, where he majored in Finance.  Griffin joins the team after graduating from the University of Alabama with a Bachelor of Science in Accounting and Finance.

Arlington Capital Advisors is a boutique investment bank that specializes in providing businesses in the consumer sector with advisory services. Arlington focuses on providing strategic advice to its clients, including sell-side and buy-side mergers and acquisitions, sourcing growth capital and other capital-centric strategic alternatives for businesses.  Securities offered through its affiliate, Arlington Capital Services, LLC, member FINRA/SIPC.

Please visit arlingtoncapitaladvisors.com for more information.

Birmingham, AL

Arlington Capital Advisors, a leading consumer-focused investment bank, recently received recognition with two industry awards for the firm’s role as investment advisor to Dogfish Head Craft Brewery, Inc. in its merger with The Boston Beer Company, Inc. (NYSE: SAM). 

The Deal awarded the Dogfish Head merger as the Consumer, Retail, Food & Beverage Deal of the Year in its Middle Market Awards.  The Deal recognizes the leading lawyers, bankers, investors and advisers in middle-market transactions each year at its Middle Market Awards ceremony.  

Additionally, The M&A Advisor awarded the Dogfish Head merger with the Consumer Staples Deal of the Year award at its 18th annual M&A Advisor Awards. 

“We are honored to be recognized by our peers and the recognition is a great testimony to our mission of being the trusted advisor to premium consumer brands,” said Vann Russell, founder and Managing Director at Arlington Capital. “We are fortunate to have been able to work with Sam, Mariah and the rest of the Dogfish Head team.”

Arlington Capital Advisors is a boutique investment bank that specializes in providing businesses in the consumer sector with advisory services. Arlington focuses on providing strategic advice to its clients, including sell-side and buy-side mergers and acquisitions, sourcing growth capital and other capital-centric strategic alternatives for businesses.  Securities offered through its affiliate, Arlington Capital Services, member FINRA/SIPC.

Please visit arlingtoncapitaladvisors.com for more information.