King’s Hawaiian Owner Adds Killer Brownie Co. To Portfolio
Irresistible Foods Group (IFG) is adding dessert to its portfolio by taking a majority stake in The Killer Brownie Company. The terms of the deal were not disclosed.
“We look at it as a strategic partnership with the Mayne Family that previously owned all of and still owns a significant portion of the business,” said Sam Hurster, IFG senior director of strategy and new ventures.
IFG — owned and operated by King’s Hawaiian brand founders the Taira family — has focused its resources on “irresistible brands sold in the perimeter of the store,” Hurster said. The Dayton, Ohio-based brownie maker also fits IFG’s “five pillars of irresistibility” — Product, Brand, Team, Location and Future.
In the last three years, IFG has acquired two other brands that meet that criteria. Family-owned Grillo’s Pickles was picked up in April 2021 and, after investing $2.3 million round in 2020, acquired Shaka Tea in February 2022. IFG also led a $6.6 million Series B round for refrigerated truffle bar maker Honey Mama’s.
Despite the fact that the founders of both Shaka Tea and Grillo’s are no longer involved with their respective brands, IFG uses a “highly decentralized” leadership model with portfolio brands, allowing them to operate in partnership with IFG while maintaining their management structure.
The Killer Brownie executive and management teams are planning to continue to lead the brand. For the time being, there are no big changes coming to Killer Brownie with IFG focused on utilizing its sales team to support the baked sweets brand.
Launched in 1988 by Norman Mayne, CEO of gourmet grocery chain Dorothy Lane Market, Killer Brownie got its start in the retailer’s stores before spreading out to other grocery chains. Killer Brownie produces a large portfolio of brownies out of its 50,000 sq. ft. manufacturing facility in Miamisburg, Ohio, that is currently available in about 15,000 stores.
The framework for the partnership deal goes back to a “long-standing relationship between IFG and the Mayne family” built on a lot of “mutual respect,” Hurster said. “So when the Maynes finally raised their hand and said they were ready to bring on a new partner, we were there.”
IFG appears to have a sweet spot for baked goods, not only with this recent addition, but it also founded co-manufacturer and private-label producer Innovation Bakers in 2021.
In its Fullerton, Calif.-based SQF facility, Innovation Bakers produces pastries like brownies, cookies, cakes and a variety of breads. Adding to these capabilities, IFG operates production plants in Torrance, Calif., and Atlanta, Ga., and has announced its plan for a 300,000 sq. ft. facility in Taylorsville, Ind.
How Killer Brownie will fit into IFG’s manufacturing framework remains “to be determined,” Hurster said.
“I don’t have a fully baked answer for you at this point, pun intended,” he said.
