Case Study: Nothing Bundt Cakes


Nothing Bundt Cakes is a market-leading franchisor of gourmet bakeries offering its specialty Bundt cakes and related merchandise. Headquartered near Dallas, its products are handcrafted and baked onsite with high-quality ingredients and proprietary formulations distributed by its in-house facility.

LLCP Value Creation

Nothing Bundt Cakes has experienced strong results in collaboration with LLCP’s investment team, including:

  • Professionalized franchise development function and continued robust pace of new bakery openings. Consistently added 40+ bakeries annually since LLCP investment
  • Initiated supply chain improvements, including broader product set to sell to franchisees, freight cost reductions, vendor price reductions and distribution facility additions
  • Performance improvements through enhanced usage of technology, such as online ordering, a new enterprise resource planning (ERP) system and upgraded point-of-sale (POS) software.

Investment Highlights

Annual same-store sales growth averaging 13.5% since 2013
Compelling unit economics for franchisees
Significant whitespace available for continued growth
Superior guest satisfaction

Looking Ahead

Today, Ms. Tripp remains active as Nothing Bundt Cakes’ board chair and continues to own a significant proportion of the company’s equity. The company, backed by LLCP, now boasts more than 345 locations across 41 states and Canada. Nothing Bundt Cakes’ revenue has more than doubled and EBITDA has nearly tripled since LLCP’s investment in 2016.

The 2019 acquisition of six San Diego-area bakeries provides Nothing Bundt Cakes the opportunity to improve overall support to bakery owners and an extraordinary experience to guests. These bakeries are expected to become the company’s West Coast training base and innovation engine.

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