The Texas-based donut chain had remained in the Shipley family for three generations.
After 83 years in the family, beloved donut chain, Shipley Do-Nuts has sold to a private investment firm for an undisclosed amount.
Shipley was founded in 1936 in Houston, Texas by Lawrence Shipley Sr. and Lillie Shipley. Then named Shipley Cream Glazed Do-Nuts, their main product focus was serving hot, hand-cut donuts all day. According to legend, Lillie Shipley would often make donuts whilst bouncing baby Lawrence Shipley II on her knee.Today, “Shipley’s” as it’s often called, has more than 300 stores opened in nine states across the country. Its three donut types include yeast, filled, and cake-style donuts. Kolaches and Shipley Do-Nuts are also quite popular with fans.
On Wednesday morning, the company announced that it would be selling to Austin-based Peak Rock Capital private investment firm:
““My grandfather, father, and I have dedicated our lives to serving Shipley Do-Nuts, our franchisees and our guests,” said Lawrence Shipley III in a press release. “After an exhaustive search, it became clear that Peak Rock Capital was the ideal steward of our business as it pursues the next stage of growth. My family is thrilled to continue as investors in the Company, and we look forward to the exciting growth to come.”
The aquisition of the company under Peak Rock Capital coincides with Shipley III’s retirement.
“Shipley represents an exciting opportunity to invest in a beloved consumer brand with an established reputation for authenticity and quality,” Robert Strauss, Managing Director of Peak Rock, said. “We are incredibly impressed with the franchise that the Shipley family has built, and we look forward to partnering with the Company’s management team to invest behind their growth plan.”