Dave’s Killer Bread Plans Market Expansions in 2013

  Dave’s Killer Bread Plans Market Expansions in 2013

The Northwest’s signature sandwich bread brings on investment partner to scale
                              baking operations

Business Wire

PORTLAND, Ore. -- December 27, 2012

On the heels of launching in retail chains throughout Southern California,
Hawaii and Colorado, Dave’s Killer Bread (DKB) is preparing to expand to even
more new markets starting in 2013. To do this, the popular Oregon-based
company has brought on an equity and value-added partner, Goode Partners,
whose investment and expertise will enable Dave’s Killer Bread to scale up its
manufacturing and distribution. The goal: to maintain product quality as the
company expands outside the Western US.

DKB has grown steadily since its launch seven years ago, and is now available
in 11 states across the Western US. A testament to Founder and President Dave
Dahl’s inspiring story of redemption, and the amazing taste and quality of the
bread he bakes, everyone from a New York Times columnist to enthusiastic
Facebook fans across the country have lamented the lack of Dave’s Killer Bread
in their own local stores. The company is often regaled with stories from
out-of-staters, who must rely on limited online sales or the kindness of
Oregon family members to get their hands on the coveted breads.

“We love that people want our bread in their stores, and we’ve been doing our
best to meet demand in more states. Our first priority when we add a new
market is to make sure that the quality of the bread is never compromised.
Today, we are unable to ship bread farther and farther away from our
Portland-area Breadquarters without sacrificing its quality,” said Dave Dahl.

“Our relationship with Goode Partners is going to give us additional resources
and a top-shelf board member who knows exactly how to build a brand and grow
nationally. Together, we’re going to work to get our bread in the hands of new
fans in new cities.”

As president, Dave Dahl will retain his role as leader of product development,
brand development and the company’s continued philanthropic efforts. The
company will also maintain its Breadquarters and all of its current staff and
operations near Portland, Ore.

Dave’s Killer Bread plans for some operational changes as a result of this
investment:

  *Goode Partners is taking an equity stake in the company, and will add
    three representatives to the DKB board. They will join current CEO Shobi
    Dahl, Dave Dahl and Glenn Dahl.
  *DKB will add a new Chairman of the Board, Angelo Fraggos, a 38-year
    veteran of the baking and snack industry. He specifically brings the
    expertise needed to drive strategic direction and organizational
    development.

“As a board, our chief focus will be to ensure the heart and mission of this
company are uncompromised,” Dahl said. “We believe the addition of Goode
Partners and Angelo to our team will help drive our company to new heights.”

Goode Partners is a New York-based private equity firm that focuses
exclusively on investment opportunities in the consumer sector. In addition to
providing investment capital, Goode specializes in partnering with experienced
professionals and has invested in some of the world’s premier consumer brands,
including Skullcandy (NASDAQ: SKUL), Intermix and Chuy’s (NASDAQ: CHUY).

“We think this brand is something special, so we jumped at the opportunity to
partner with the Dahls,” said Dan Bonoff, a Partner at Goode Partners. “We
can’t wait to work with the company to build on what has been accomplished and
continue to introduce the bread and Dave’s inspiring story to new customers.”

Portland-based business acceleration firm The Meriwether Group partnered with
Cascadia Capital to provide strategic counsel and find the right equity
partner for DKB. The resulting deal, which maintains DKB’s core culture and
values, reflects Meriwether’s and Cascadia’s expertise working with top-tier
Pacific Northwest brands, including Oregon Chai, Laughing Planet and Bike
Gallery.

“Our work focuses on helping entrepreneurs realize the potential of their
life’s work,” said Meriwether Group Founder and CEO David Howitt. “With equal
weight on market opportunity and the personal goals of the Dahl family, we
helped uncover a path that will propel the business forward with total
authenticity and commitment to product, brand and culture.”

About Dave’s Killer Bread

Dave’s Killer Bread bakes organic, whole grain, vegan and GMO-free bread
products sold throughout the Western United States at leading grocery stores
and local markets. DKB has grown rapidly in seven years, evolving from four
varieties sold at a weekly booth at the Portland Farmer’s Market by Dave and
Shobi Dahl, to 16 varieties sold in every major grocery chain in 11 states.
Known for its trademark explosion of seeds and delicious chewiness, Dave’s
Killer Bread is equally well known for the struggles faced by Dahl, who
battled depression and emerged from a life of crime to become one of the most
celebrated bread artisans on the West Coast.

The company’s vision is to make the world a better place, one loaf of bread at
a time. Founded by Dave Dahl, his brother Glenn, and nephew Shobi, the mission
of Dave’s Killer Bread is to bakethe highest-quality whole grain and organic
bread without compromise, as well as to contribute positively to the community
and create a respectful and enjoyable place for its employees to work.

In 2011, Dave’s Killer Bread was ranked byInc. Magazineas one of the
“Fastest Growing Companies in the U.S.” In addition, the company also received
both the “Ethics in Business Award” from ThePortlandRotary Club, Portland
Business Journal,andWillamette University, and the “2011 Local Hero Award”
fromEdible Portland Magazinein the Food Artisancategory. To learn more
about Dave’s Killer Bread and Dave’s inspiring journey from convict to bread
guru, visitwww.daveskillerbread.com.

Contact:

Grady Britton
Lindsay Yale or Grady Britton, 503-810-5902
lindsayy@gradybritton.com