San Diego-based private equity firm HCAP Partners said Tuesday it has made an undisclosed mezzanine debt investment in Baked in the Sun Inc., a locally based commercial bakery.
The investment is intended to facilitate Baked in the Sun’s acquisition of another local commercial bakery, S&S Bakery, and its expansion into new markets, HCAP said.
Baked in the Sun, based in Vista, makes fresh and frozen baked goods for coffee shops, grocery stores, schools, hotels, hospitals and other customers throughout Southern California and Las Vegas.
HCAP, founded in 2000, typically invests $2 million to $9 million in businesses with $10 million to $75 million in revenues in the healthcare, software, services and manufacturing industries. Since its founding the firm has invested in more than 60 companies.