Calder Capital is delighted to announce that Bear Stewart Corporation of Chicago, IL has been acquired by a local entrepreneur, Will Gano.
Will Gano is a seasoned professional specializing in corporate growth and leadership. Based in Chicago, he has significant experience in food manufacturing at Cargill Inc. Seeking help in finding an acquisition while still working full-time for his previous employer, Will turned to Calder Capital’s Buy-Side team.
Since 1899, Bear Stewart has been a leading manufacturer of bakery ingredients, offering a wide range of products including jams, jellies, pie fillings, glazes, stabilizers, mixes, and more. The company specializes in clean-label sweet bakery products, catering to grocery store chains, wholesale bakeries, commissary kitchens, and distributors in the US and Canada.
“Bear Stewart checked all of the boxes for me in terms of being the right deal size, the commute from my home, and in an industry I know something about. Besides that, it is a business that has stood the test of time due to its high-quality products, employees, and customer relationships,” Will shared. “From the first moment I was introduced to Bear Stewart, I knew it was the right fit for me.”
Shane Kissack of Calder Capital served as the lead Mergers & Acquisitions Advisor to Will Gano.
Calder’s Buy-Side team made 21 introductions and set up 12 serious meetings for Will before going under a signed Letter of Intent with Bear Stewart.
“I have met many small M&A advisors over the years, and there is no one I would consider better at their craft than Shane Kissack,” Will commented. “I would recommend working with Shane and the Calder Buy-Side team without hesitation!”
“Will was one of the most prepared clients I have ever worked with,” Shane shared, reflecting on the acquisition process. “His depth of experience, unwavering patience, and commitment to growth made him the perfect fit for taking Bear Stewart Corporation into its next chapter. I look forward to seeing how the Company grows under his leadership. Congratulations, Will!”
“Congratulations to Will Gano and the Bear Stewart team,” remarked Calder Managing Director, Max Friar. “This acquisition is an exemplary one in respects to the power of Calder’s Buy-Side team to source and complete acquisitions in niche spaces. There are 100s if not 1000s of buyers searching hopelessly for represented food product manufacturers. When they find them, inevitably it is a bidding war and they lose out 99% of the time. Will was smart; he decided to use Calder’s toolset to get him into the process as an individual alongside the institutional private equity and strategic buyers in the mix. The result: A perfect and successful win-win-win!”
Calder Capital, LLC served as the exclusive Mergers & Acquisitions Advisor to Will Gano.
The terms of the transaction were not disclosed.
About Calder Capital
Calder Capital, LLC is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.
About Bear Stewart Corporation
Since 1899, Bear Stewart has been a leading manufacturer of high-quality bakery ingredients. Their diverse product line includes Jams, Jellies, Whole Fruit Pie Fillings, Specialty Items, Frozen Muffin and Cookie Batters, and more. They offer a wide portfolio, including natural and no added sugar options, catering both branded and private labeled products to grocery store chains, wholesale bakeries, commissary kitchens, and distributors in the US and Canada.
