Keystone Capital Management, L.P. (“Keystone”) is pleased to announce an investment partnership with Baily International (“Baily” or the “Company”), a producer of authentic, high-quality Asian appetizer products.
Baily is a long-standing and nationally recognized brand in the Asian appetizer market and has served its customers for more than 40 years. Headquartered in Granite City, IL, the Company employs more than 300 people and operates out of a collective approximately 200K square feet of production space across two facilities in the Saint Louis area and another in Georgia. Baily’s core offering is made up of staple Asian food products including egg rolls, wonton wrappers, noodles, and fortune cookies, which are supplied to a diverse base of loyal foodservice distributors throughout the United States. For more information on Baily, please visit www.bailyfoods.com.
“Partnering with Keystone brings tremendous opportunity for Baily,” noted Steve Cameron, CEO of Baily. “Keystone’s extensive experience in food manufacturing and approach to building businesses the right way gives me great confidence that together we can create the best version of Baily and serve our customers even better than before.”
Steve purchased Baily from its original founder in 2016 and has grown the business as CEO since. He will continue to operate the company as CEO with Keystone as a supportive partner for growth.
“We are absolutely thrilled to partner with the team at Baily,” commented Chaoran Jin, Managing Director at Keystone Capital. “This business has so much opportunity to expand upon the legacy built over several decades, and we’re honored to have the opportunity to play a part in that.”
Baily will be actively seeking acquisition opportunities in the ethnic food manufacturing space. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.
Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and Siemens Financial Services, Inc., and legal counsel was provided to Keystone by DLA Piper LLP.
Contact Information
Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com
Erik Gernant
(312) 468-6266
egernant@keystonecapital.com
Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com
Maggie Horak
(312) 219-7961
mhorak@keystonecapital.com
