Private equity giant KKR is reportedly circling Dallas-based bakery chain Nothing Bundt Cakes in a potential deal that could top $2 billion, putting one of North Texas’ sweetest exports in the middle of a blockbuster buyout conversation.
The Dallas Business Journal reported yesterday that KKR may be preparing an offer valuing the chain at more than $2 billion, citing people familiar with the situation. The story, by reporter Lauren McDonald, tucked the possible transaction into a Dallas-Fort Worth deals roundup and noted that public details were scarce at the time.
Nothing Bundt Cakes says it operates more than 500 bakeries across more than 40 U.S. states and Canada and lists a Dallas support center on its careers page. Most locations are franchised and the chain sells full-size Bundt cakes, bite-size Bundtinis and event catering. The company has leaned on franchise growth as its primary expansion engine, according to Nothing Bundt Cakes…