Shipley Do-Nuts, the beloved Houston-based chain, was recently sold to a private equity firm in California, according to a news release.
The previous owner, Peak Rock Capital, announced the sale of Shipley Do-Nuts to Levine Leichtman Capital Partners on Monday.
Under Peak Rock Capital’s ownership, same-store sales rose for 18 consecutive quarters, and the doughnut company set records for store growth, the release stated.
“We have benefited greatly from our partnership with Peak Rock, and their approach has been key to unlocking Shipley’s impressive growth,” said Shipley Do-Nuts CEO Flynn Dekker.
The new owners, Levine Leichtman Capital Partners, said the doughnut company will still be managed from its headquarters in Houston and be led by Flynn and the executive team.
“Together, we see a tremendous opportunity to build on this foundation by expanding unit count even further to capture the substantial whitespace and driving strong same-store sales growth,” said Matthew Frankel, the managing partner of Levine Leichtman Capital Partners.
Shipley Do-Nuts has served generations of customers since it was originally founded in 1936. The company now has more than 375 locations across the U.S., including 20 in San Antonio.
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