New Carbon sold to PNC Riverarch Capital

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SOUTH BEND – New Carbon Inc., which provides waffle and pancake mix to restaurants and hotels across the country, has sold a controlling interest of the business to PNC Riverarch Capital of Pittsburgh.

New Carbon was founded in 1937 and serves more than 40,000 customers in North America. Last year, the company has $30 million in sales.

PNC Riverarch Capital is part of PNC Capital Finances, which h is a subsidiary of PNC Financial Services Group.

 

 

 

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