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New Water Capital Acquires Baked Goods Manufacturer Klosterman Baking.

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MANews-(C)2009-2022

An affiliate of Florida, US-based private equity investment firm New Water Capital Partners II L.P., which is focused on lower-middle market companies, has acquired Cincinnati, Ohio-based Klosterman Baking Company Inc, the firm said.

Founded in 1892 by members of the Klosterman family, Klosterman is a leading producer of fresh and frozen breads, buns, flatbreads, organic breads, artisan breads, donuts and other bakery products serving an extensive, well established national customer base of restaurants and other foodservice operators, grocery retailers and convenience stores, and institutional customers.

Today the company operates 17 bakeries and distribution facilities across the eight Midwest states.

The acquisition of Klosterman adds to New Water's presence in the manufactured foods sector, which includes frozen foods developer The Perfect Bite Co. and frozen...

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