Arbor Invests Over $150M to Expand Crown Bakeries

Private equity firm pours funds into new facilities and automated equipment to support Crown's growth.

Apr. 13, 2026 at 3:52pm

A photorealistic studio still-life photograph featuring premium baking equipment and ingredients, conveying the quality and craftsmanship behind Crown Bakeries' products.Arbor Investments' strategic capital investments have fueled Crown Bakeries' rapid expansion and modernization, positioning the company to meet growing customer demand.Pleasant Prairie Today

Chicago-based private equity firm Arbor Investments has invested over $150 million into its portfolio company Crown Bakeries, formerly known as The Tennessee Bun Co., to expand its production capabilities and fuel the company's rapid growth since Arbor's acquisition in 2019. The investments include a $50 million upgrade to Crown's Pleasant Prairie, Wisconsin bakery, as well as several strategic acquisitions that have grown the company from 4 southeastern bakeries to a 9-facility platform with 1,800 employees.

Why it matters

Unlike some private equity firms that focus on financial engineering, Arbor takes a hands-on approach of reinvesting earnings back into its portfolio companies to drive operational improvements and support customer demand. This strategy has allowed Crown Bakeries to rapidly expand its production capacity and geographic footprint to better serve its growing customer base.

The details

Since acquiring a majority stake in Crown Bakeries in 2019, Arbor has invested over $150 million into new facilities and state-of-the-art automated equipment. This includes a recent $50 million upgrade to Crown's Pleasant Prairie, Wisconsin bakery, which now operates two high-speed croissant lines and a new bun and roll production line. With Arbor's support, Crown has also made several strategic acquisitions that have grown the company from 4 southeastern bakeries to a 9-facility platform with 1,800 employees, while increasing sales six-fold.

  • Arbor acquired a majority stake in Crown Bakeries (then The Tennessee Bun Co.) in 2019.
  • Arbor has invested over $150 million into Crown Bakeries since the 2019 acquisition.
  • Arbor recently invested $50 million to upgrade Crown's Pleasant Prairie, Wisconsin bakery.

The players

Arbor Investments

A Chicago-based private equity firm that focuses on reinvesting earnings and cash flow back into its portfolio companies, rather than relying on financial engineering.

Crown Bakeries

Formerly known as The Tennessee Bun Co., Crown Bakeries is a Brentwood, Tennessee-based baked goods manufacturer that has grown from 4 southeastern bakeries to a 9-facility platform with 1,800 employees since Arbor's acquisition in 2019.

John Jordan

The president of Arbor Investments, who oversees the firm's strategy of investing in talent, innovation, and capital expenditures to support its portfolio companies' growth.

Got photos? Submit your photos here. ›

What they’re saying

“The Arbor playbook has worked well for 30 years: invest in talent, invest in innovation and invest in capital expenditures to support our customers' ambitions.”

— John Jordan, President, Arbor Investments

“Many private equity firms rely on third-party resources to support operators. At Arbor, we have the opposite model, which is to insource everything. We have an in-house team of C-suite professionals that have owned, operated and run businesses with a broad range of experiences. They are leveraged by CEOs to help our companies execute in real time.”

— John Jordan, President, Arbor Investments

What’s next

Arbor Investments is expected to continue investing in Crown Bakeries' production capabilities and geographic expansion to support the company's growing customer base.

The takeaway

Arbor Investments' hands-on approach of reinvesting earnings back into its portfolio companies, rather than relying on financial engineering, has allowed Crown Bakeries to rapidly scale its production and geographic footprint to better serve its customers' evolving needs.