Contact: Laurie Boyce FOR IMMEDIATE RELEASE
Phone: 518-395-3388 x117
BAKE-RITE INTERNATIONAL AND HORIZON BRADCO TO MERGE
Transformation backed by infusion of capital and new talent; company to focus on
improved operations, new products and market expansion
Schenectady, New York (September 25, 2013) – Bake-Rite International and its strategic partner, Horizon Bradco, will merge together under the name Horizon Bradco in 2014 to better support the baking, commercial and industrial food industries with premium processing equipment and services. The new company has also drawn major capital from investment firm, Hamilton Robinson Capital Partners.
Along with the merger and investment, the company has named Mark Panozzo as CEO. Panozzo and current managing partners, Brian and Kathy Donovan and Frank Corvino, will expand the company’s footprint into new markets to fuel regional and national growth. Under the current management team and employees, the companies have experienced high growth over the last five years from $8 million to over $20 million with more than 100 employees, operating in 17 states along the East Coast and Southeast.
“These changes bring together the talent, knowledge, and resources needed to transform Horizon Bradco. We are very excited to have Mark join our team and are confident that existing and prospective customers will recognize the benefits brought about by efficiency improvements, new products and expanded markets,” said Kathy Donovan.
The company has already begun implementing changes to complete the merger early 2014. It will retain the Bake-Rite brand to provide its baking equipment solutions and expertise to that specific industry while maintaining the original mission of both companies to provide the best equipment and service to the food preparation industry.
“Brian, Kathy and Frank have created a dynamic company that is ideally positioned for growth with several of its market-leading customers in the supermarket and food service industries,” concluded Panozzo. “Together, along with the employees who have built this company, we intend to take the company to a new level.”
Panozzo will focus on improving logistics and implementing policies and procedures that will lead to more efficient and effective management of the company. He is affiliated with Hamilton Robinson and brings extensive customer-facing leadership experience in the manufacturing sector.
About Horizon Bradco
Horizon Bradco is a leading distributor and food equipment solutions provider to the supermarket, meat processing, bakery and food commissary markets. Founded in 1987, the company is headquartered in Schenectady, New York with additional office locations in Massachusetts, North Carolina, and Florida. The company markets its automation-focused bakery equipment solutions to the retail, wholesale, and industrial baking segment under the Bake-Rite International brand. To learn more please download our Press Kit by visiting https://www.horizonbradco.com/wp-content/uploads/2013/09/Press_Kit_9.25.131.pdf
About Hamilton Robinson Capital Partners
Hamilton Robinson Capital Partners was founded in 1984 to invest directly in small, privately held manufacturing, distribution and service businesses. Over the course of the last 25 years, Hamilton Robinson has maintained its singular focus on this dynamic market to become a leading resource for equity capital and growth strategies for small businesses.