January 12, 2022

Northstar Capital Invests in Rustic Bakery, Inc.

MINNEAPOLIS, MN — Northstar Capital (“Northstar”), a provider of junior capital for middle market private equity transactions, is pleased to announce its investment in Rustic Bakery, Inc (“Rustic Bakery”), a portfolio company of San Francisco Equity Partners (“SFEP”).

Founded in 2005, Rustic Bakery is a leading specialty foods company that manufacturers and markets a growing portfolio of organic, hand-rolled sourdough flatbread crackers, crisps, cookies, biscuits, and artisanal products. The Company’s products are high quality, made with organic, non-GMO, clean label locally sourced ingredients and are manufactured at Rustic Bakery’s facility in Petaluma, CA. Rustic Bakery’s products are sold through distributors to retailers in the natural, conventional, and club channels in over 5,000 stores in North America. In addition to Rustic Bakery’s wholesale operations, the Company operates four award winning fast casual cafes in Marin County, CA offering elevated fast casual breakfast and lunch. The company’s highly demanded products have been featured in Super Bowl suites and were even requested by Pope Francis when he toured North America. For more information on Rustic Bakery, please visit https://rusticbakery.com/

Northstar provided a co-investment to help SFEP finance the transaction. The Northstar team remains committed to partnering with experienced management teams and private equity sponsors to help good companies become even better. Rustic Bakery is the nineteenth platform investment in Fund VII, a $500 million committed parallel fund strategy consisting of Northstar Mezzanine Partners VII L.P. and Northstar Mezzanine Partners SBIC L.P.

About Northstar Capital

Northstar Capital is an investment management company with offices in Minneapolis, Minnesota and Fargo, North Dakota. Northstar specializes in junior capital investments and equity co-investments in middle-market companies. Since inception, Northstar has partnered with more than 150 companies and raised nearly $2 billion in capital. Northstar invests in a diverse range of industries, including healthcare, industrials, consumer, business services, food and agriculture, outsourcing, and distribution. For more information, please visit www.northstarcapital.com.

About San Francisco Equity Partners

San Francisco Equity Partners is a private equity firm exclusively focused on expansion-stage companies in the consumer sector. To each of its partner companies, SFEP serves as an extension of the management team and provides both extensive operating experience and a broad network of relationships across the consumer products landscape. For more information, please visit www.sfequitypartners.com.