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“ Klosterman was founded in 1892 under the name , French Baking , when Frank Klosterman , along with business partner , Charlie Thiewald started a small , yet creative French bakery in Kentucky ,” Dale begins . “ In 1918 , Frank bought out Charlie , changing the company name and bringing his brother , Benjamin , onboard . Over the decades , the bakery gradually grew in terms of both its production and geographical footprint , with multiple bakeries and fresh distribution centers , eventually becoming the largest family-owned bakery in the Midwest .
“ When it came to the family ’ s fourth generation , they decided to pass on the baking torch to new ownership . That ’ s where New Water Capital and I got involved ; we saw it as an exciting opportunity to grow the business through providing top-notch customer service and products , and , of course , continue the family ’ s well-deserved legacy .
“ Klosterman is the third company I ’ ve worked for under New Water Capital ’ s ownership , and they are great business partners ,” Dale explains . “ It is certainly not a typical corporate remote private equity firm . Rather , as investment partners , they help to create opportunities for businesses in the middle of a transition , focusing on reinvestment instead of micromanagement . We have regular review sessions , and they are always keen to support in whatever ways they can . For instance , I currently have support from New Water to assist with data analytics and system launches . 114