Koffee Kup Bakery is acquiring Vermont Bread Company in Brattleboro for $3.5 million with the help of a $683,165 loan from the Vermont Economic Development Authority.
The acquisition includes Vermont Bread Company and its eastern affiliate company from Colorado-based Charter Baking Company, VEDA announced Wednesday.
Koffee Kup Bakery and Vermont Bread Company have a combined 148 employees in Vermont and a sales staff of 95, who are scattered throughout New England and New York.
Based in Burlington, Koffee Kup makes and distributes doughnuts and bread products throughout Vermont, New Hampshire, and parts of New York, Maine and Massachusetts.
Jo Bradley, VEDA chief executive officer, said the acquisition gives Vermont Bread Company “more outlets for their products and will help them to grow their business.”
The acquisition also includes significant bakery facilities and equipment in Brattleboro and Connecticut.
VEDA said the purchase will allow Koffee Kup to further expand its operations, and save a number of well-paying jobs in southern Vermont. People’s United Bank also provided financing for the project.
In conjunction with the Vermont Bread acquisition, VEDA also approved $180,000, and People’s United Bank provided additional financing, to help Koffee Kup Bakery acquire $450,000 of bakery and distribution machinery and equipment.MORE IN Southern VermontThe search for a new principal for Union Street School is down to two finalists. Full StoryWALLINGFORD — Graduates of Wallingford High School are invited to attend a meeting tonight to... Full Story
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