Baking & Snack - November 2005 - 27

was not only able to continue business
as usual, but it was still growing despite
bankruptcy. "That was my first clue
that the company was doing an awful
lot of things right," he said. He began
developing the long-term strategic
plan for the company in May.
Because of the comprehensive

due diligence, the group identified
exactly what was needed and was
able to hit the ground running the
day the sale was closed.
GOOD PEOPLE. Mr. Knowles took
the helm with a strong background
and vast knowledge of the food ser-

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30 / BAKING & SNACK / November 2005

vice and in-store baking industries.
He began his career with Quaker
Oats marketing food service products. There, he started up an in-store
bakery division that was later sold. He
also worked for Hazelwood Farms in
the in-store and food service divisions, and most recently, Mr. Knowles
served as general manager of the
bakery division of mix and frozen
for both in-store and food service at
Bunge Foods North America.
His experience allowed him to
look at Awrey and assess its strengths
and weaknesses. According to Mr.
Knowles, the bakery's strengths lie in
its name, longevity and reputation; its
people; the quality and consistency of
its products; and its strong customer
base. "These will be the cornerstone
from which we will be building our
success in the future," he said. "I went
into this venture knowing that Awrey
has always had an exceptional reputation in the baking industry. The challenge was identifying what changes
needed to be made."
Mr. Knowles recognized from the
start that the middle tier of management at the bakery was astoundingly
talented. "This is an extremely loyal
group. They have Awrey in their
blood, even if it isn't their last name,"
he continued. "The average tenure
is well into double-digit years. They
are extremely proud of the business.
They work very hard. Everybody just
wants the company to succeed."
The main reason the company held
together so well and attracted a bid
from Hilco and Monomoy, according
to Mr. Knowles, was that even after the
two senior managers left, the employees knew what to do and how run the
company to keep the business going.
The company's 262 union members were supportive and cooperative. Union membership very much
wanted to participate in the successful emergence from Chapter 11.
"They have good ideas and experience," Mr. Knowles said. "In the past,
their voice went unheard."
The other factor that allowed

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Baking & Snack - November 2005

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