Shipley sold

Austin-based private equity firm gobbles up iconic Texas doughnut shop

Shipley Do-Nuts has been sold.

Texas' iconic Shipley Do-Nuts has a new owner. The Austin-based private equity firm Peak Rock Capital announced it has purchased the company from the Houston-based Shipley family. Terms of the deal were not disclosed.

Known for its doughnuts and kolaches, the company has over 300 locations in nine states, including seven in Austin. The acquisition will allow the company to grow with both its existing franchisees and to find new opportunities in other markets.

"My grandfather, father, and I have dedicated our lives to serving Shipley Do-Nuts, our franchisees and our guests. 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," Lawrence Shipley III said in a statement. "My family is thrilled to continue as investors in the Company, and we look forward to the exciting growth to come."

With the completion of the purchase, Shipley has retired from his position as president of the company. He will focus on other family investments, according to a release.

"Shipley represents an exciting opportunity to invest in a beloved consumer brand with an established reputation for authenticity and quality," Peak Rock managing director Robert Strauss added. "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."

Peak Rock Capital is an Austin-based "middle-market private investment firm" with investments in various businesses in both the U.S. and Europe. Its other holdings include snack foods maker Halo Foods Ltd. and Turkey Hill, a company that makes ice cream and refrigerated drinks.

Shipley Do-Nuts is the latest Texas brand acquired by a private equity firm. In November, Torchy's Tacos announced it has received a $400 million investment that will allow it to expand to 10 more states over the next four years. Chicago’s BDT Capital Partners acquired a majority stake in Whataburger in 2019 with plans to expand the brand.

news-you-can-eat doughnuts

Brunchy Business

Mimosa Walk returns to Austin's South 1st Street for sips and shopping

Blue Suede/Instagram

Businesses along South 1st Street are welcoming shoppers with mimosas on Saturday, November 16.

Perhaps no other drink has the mimosa's power to draw people out on the weekend, and one Austin neighborhood is harnessing it for a leisurely tour of local businesses. The Austin Mimosa Walk: South 1st Fall Festival is scheduled for November 16, and will stop at local businesses, each with complimentary drinks.

The tour will include some shopping, some casual snack spots, and even some wellness stops. Although not every business mimosa walkers will pass is participating, the tour will pass lots of local eateries, making it easy to tack on a lunch when the Champagne starts making itself known.

The following eight businesses are participating as stops on the self-guided tour:

Austin Salt Room — a spa-like environment for salt therapy, essentially hanging out near tons of salt while breathing in microscopic salt particles, which are said to improve respiratory health
Blue Suede Austin — a cool women's shoe boutique (with a wine bar!) that specializes in semi-casual styles at mid-range prices, featuring brands like Sam Edelman, Jeffrey Campbell, and Cecelia
Devil’s Details Boutique — formerly Bloomers and Frocks, this vintage shop has rebranded and shifted its focus to jewelry, often in bold and unique styles
Glint Dental — a dental office specializing in aesthetic procedures like veneers and whitening, but also offering general and preventative care
Golden Mean — early holiday shoppers should keep friends and family in mind at this gift shop, which carries unique goods ranging from soaps and blankets to kitchen goods and avant-garde decor.
Once Over Coffee— an unassuming-on-the-outside, artsy-on-the-inside coffee shop serving Wild Gift Coffee and less common coffee shop finds like kombucha and Italian soda
Package Austin — a queer menswear store for harnesses, underwear, accessories, toys, and community events
Sugar Mamas Bakeshop — a colorful bakery specializing in fantastically decorated cakes, often with a sarcastic or funny twist

The listing on Eventbrite promises a hydration station by Topo Chico, a collector's glass, and that the event will sell out. It requires that tickets ($32) be purchased in advance online. [Update: An event organizer says the ninth business on the Eventbrite list is still under construction, and will not be participating.]

The walk will take place from noon to 3:30 pm. Guests will receive a "passport" to help navigate between tour stops. A check-in tent will get guests started at 1628 S. 1st St.

local business cocktails shopping