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Monday, July 21, 2008
Bread wars: Ex-SunGard exec now in bakery M&A

  Gatehouse Holdings LLC, Berwyn, says it bought and closed Amalfitano’s Bakery, New Castle, Del., and added its product lines to Gatehouse’s D’Ambrosio’s Bakery in Philadelphia’s Grays Ferry section. Terms not disclosed. 
  The deal brings D'Ambrosio's into Delaware and Maryland, said Gatehouse managing director Christopher D. Jansen, a former SunGard Data Systems executive who is now D’Ambrosio’s president.
   D'Ambrosio had a tough opening in Delaware, according to the Wilmington News Journal. Story here. Jansen blames hot weather (bread is heat- and humidity-sensitive) and the usual merger dislocations.
   Amalfitano's founder Louis Amalfitano died last year, and company owners and leaders including Amalfitano's son Joe faced record wheat prices and an expiring lease, Jansen said. 
  Amalfitano’s employed around 15. Head baker Joe Amalfitano and several bakers and drivers have been hired at D’Ambrosio’s, which plans to open warehouse depots to support the new routes.

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About Joseph N. DiStefano
M&A deals, building projects, and other big doings that matter to people around Philadelphia. By Joseph N. DiStefano, a business reporter at the Philadelphia Inquirer. Joe previously covered giant banks at Bloomberg News in New York. He’s the author of Comcasted, a book about Philadelphia’s most valuable company. He has a degree in economics and history from Penn.