SF Equity Partners Buys Majority Stake in Rustic Bakery

SAN FRANCISCO — San Francisco Equity Partners (SFEP), a private equity firm focused on expansion-stage companies in the consumer sector, has acquired a majority stake in Petaluma-based Rustic Bakery, a pioneer and market leader in organic and specialty foods, and one of the highest-velocity specialty cracker brands in the market. Terms of the deal were not disclosed.


Founded in 2005 by Carol LeValley and her husband Josh Harris, Rustic Bakery is a leading specialty foods company that manufactures and markets a growing portfolio of artisanal products, including crackers, crisps, cookies and biscuits. The company manufactures its organic, non-GMO products with locally sourced ingredients at its Petaluma, CA production facility, where it controls a proprietary production process to maintain exceptional product quality.

Rustic Bakery’s products are sold in over 5,000 stores in North America across multiple distribution channels, including conventional and natural grocery, club, e-commerce, specialty and foodservice. The company’s highly sought-after products have been featured in Super Bowl suites and were even requested by Pope Francis when he toured North America. Rustic Bakery also operates four award-winning cafés in Marin, CA that offer elevated fast casual breakfast and lunch fare.

“Rustic Bakery is a strong, authentic brand built on exceptionally high quality,” said SFEP Managing Partner Scott Potter. “We see a significant opportunity to expand the brand’s product portfolio, distribution and customer base, and look forward to bringing our strategic and operational resources to bear as we partner with the company on its next phase of growth.”

“SFEP has great experience building authentic consumer brands and scaling manufacturing businesses in high-growth product categories,” added Carol LeValley, CEO and founder of Rustic Bakery. “We’re excited to partner with them to continue to build the brand, accelerate the business and delight our customers with more great offerings.”

Aspect Consumer Partners acted as exclusive financial advisor to Rustic Bakery in connection with the transaction.