Mallet and Company, a Carnegie, PA-based manufacturer of proprietary oils, ingredients and equipment used in the commercial bakery industry, has received an investment of undisclosed amount from ICV Partners.
Founded in 1939, the company sells its products primarily to large commercial bakeries. Mallet’s three key products include:
– release agents, which are proprietary oil formulations used to coat trays and baking pans used in the baking process;
– equipment solutions, highly automated bread and bun pan oilers and cake pan greasers that spray release agents over targeted areas evenly and consistently;
– specialty ingredients, such as icing stabilizers, emulsifiers, specialty shortenings and vegetable oils.
Commenting on the investment, Robert Mallet, CEO of the company, said: “ICV gave me a great sense of confidence to make the final decision to partner with them to further the growth of our company.
“I believe our employees and customers will benefit from this new relationship as we now have greater resources to make Mallet an even more valued partner to our customers”, he added.