Market Overview

C.H. Guenther & Son Acquires Cookietree Bakeries

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C.H. Guenther & Son (CHG) today announced it has acquired Cookietree
Bakeries (Cookietree), a leading producer of premium thaw-and-serve
cookies, bake-and-serve cookie dough, brownies and scones. Financial
terms of the transaction were not disclosed.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180806005033/en/

Founded in 1981, Cookietree supplies leading quick-service restaurants
(QSRs), fast-casual restaurants, club stores and retailers from its
state-of-the-art manufacturing facility in Salt Lake City. The business
will continue to operate under the Cookietree brand with production out
of Cookietree's existing facility.

Based in San Antonio, CHG, a producer of branded and private-label food
products, is owned by PPC Partners along with management and other
co-investors. The acquisition grows CHG to more than 3,000 employees in
21 food manufacturing locations in the U.S., Canada and Western Europe.

Greg Schenk, founder and CEO of Cookietree, said, "CHG's global
capabilities, manufacturing expertise and food-safety focus will allow
Cookietree to continue providing excellent service to our existing
customers while also expanding our business. CHG's and PPC's family
legacies and commitment to long-term business-building make them both
ideal partners for Cookietree."

Dale Tremblay, CEO of CHG, said, "Greg and his team have built
Cookietree into a market leader in the dessert space. Their
customer-centric culture and commitment to innovation are well-aligned
with our core values. We look forward to leveraging our combined
capabilities and providing value for customers for years to come."

Chris Trick, principal at PPC Partners, added, "CHG is led by an
outstanding team with a proven track record of growth, both organically
and through acquisition. The acquisition of Cookietree demonstrates
PPC's commitment to CHG and to partnering with industry leaders to
deliver innovative products and excellent customer service. We will
continue to support CHG and Cookietree as they look to deliver value to
their customers."

Cookietree was advised on the sale by Cody Peak Advisors.

About C.H. Guenther & Son: San Antonio-headquartered C.H.
Guenther & Son is a growing, privately owned food manufacturer that has
delivered high-quality products and "just baked from scratch" flavor for
nearly 170 years. Founded in Texas in 1851, the global company employs
more than 3,000 people in 21 manufacturing locations in the U.S., Canada
and Western Europe. CHG is a leading supplier of branded and
private-label gravies and sauces; seasonings; grain-based specialties
such as frozen dough and buns; artisan breads; custom desserts; frozen
oven-ready snacks and meals and other value-added food products for
foodservice clients and select consumer markets. CHG's well-loved retail
brands such as Pioneer, White Wings, Sun-Bird and Cuisine Adventures
have been included at family meals for generations. Visit us at CHG.com.

About Cookietree Bakeries: Located in Salt Lake City, Cookietree
Bakeries is a leading supplier of thaw-and-serve cookies and
bake-and-serve cookie dough to the foodservice industry. All its
products are manufactured in a state-of-the-art facility that is SQF
certified, kosher certified and halal certified. Cookietree's customers
are found throughout North America, Europe, Asia and the Middle
East. For more information, visit Cookietree.com.

About PPC Partners: PPC Partners acquires and operates North
America-based middle-market companies with leading positions in the
manufactured products, services and health care sectors. Led by Tony
Pritzker and the former investment and operating professionals of
Pritzker Group Private Capital, the firm's differentiated, long-duration
capital base allows for efficient decision-making, broad flexibility
with transaction structure and investment horizon, and alignment with
all stakeholders. PPC Partners builds businesses for the long term and
is an ideal partner for entrepreneur- and family-owned companies. For
more information, visit PPCPartners.com.

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