Levain Bakery
Dining · 21+ locations · NYC, Los Angeles, Chicago, Washington DC, Bethesda, Boston, Philadelphia
People think of Levain as the founder-run cookie shop that started it all on the Upper West Side. Growth-equity firm Stripes Group has held majority control since 2018, and outside CEOs now run day-to-day operations while co-founders Pam Weekes and Connie McDonald hold minority stakes.
The Big Picture
Levain Bakery's founders sold majority control to growth-equity firm Stripes Group in 2018, and neither Pam Weekes nor Connie McDonald holds a confirmed operational role today. Outside CEOs have run the 21-location chain for eight years, wages sit at NYC's minimum wage at the entry level, and the company publishes no supplier names or environmental disclosures despite a national retail footprint. The cookies are still made under the name the founders built, but the business now answers to Stripes Group and its investors.
The Dirty Details
Ownership
StripesGrowth Equity
Stripes is a New York growth-equity firm founded in 2008 by Ken Fox, investing in consumer brands and software companies: its portfolio spans OpenAI, A24, Monday.com, and Vuori alongside the food brands Ferret tracks. The firm typically takes minority growth stakes, though it has taken majority control in some cases.
Assets under management: $7B (2025)
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Company data last updated August 2026
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