The ownership of Shipley Do-Nuts, a name intrinsically tied to Houston and the city's various cultural underpinnings, has officially changed hands. Peak Rock Capital announced it has sold the brand to Levine Leichtman Capital Partners, a California-based private equity firm.

WACO, Texas (KWTX) - Private equity firm Levine Leichtman Capital Partners (LLCP) acquired the Texas-based Shipley Do-Nuts from Peak Rock Capital, according to a news release. Shipley is the nation’s largest donut and kolache brand with more than 375 locations across 14 states.

The Houston-based donut chain's CEO said the past five years have seen the company grow more quickly than at any other point in its nearly 90-year

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