CEDAR RAPIDS — The owners of Kathy’s Pies are seeking to sell the downtown bakery after more than 30 years of family ownership.
Co-owner Kathy McCauley said she and her sister and Kathy’s Pies, co-owner Terri Henecke, are selling to pursue other opportunities outside the baking industry.
The two are hoping to sell the business to a family that will continue running it under its current namesake and offerings.
The longtime bakery at 616 Fifth Ave. SE has been for sale for just more than a year. It is listed as a turnkey operation with an asking price of $195,000, which includes the businesses’ name, equipment and recipes.
The sale would not include the property itself, McCauley said, as Mercy Medical Center purchased the land and is renting it to Kathy’s Pies. Mercy plans to continue its current rental agreement in the event of a sale, McCauley said.
McCauley has fielded some interest from buyers who want to install a general manager to run the business, which she said wouldn’t work as she, her husband and Henecke are planning to leave the business together, taking decades of institutional knowledge with them.
“We need people that are willing to take it over and work it and be here every day and maintain the quality we’ve had here over 33 years,” she said.
McCauley said she and Henecke will continue to run the shop until they find a suitable buyer.
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