Atlantic City's famed Formica's Bakery, a maker of bread in New Jersey for more than a century, is changing ownership. The family of George E. Norcross III purchased a majority stake in the company and has plans for a multimillion dollar expansion of the business in the years ahead.

The bakery was founded in Atlantic City by Italian immigrant Francesco Formica and his wife, Rosa, whose intergenerational business grew to supply more than 280 local shops at its peak. Today is it known for supplying the bread for hoagie shops like White House Subs in Atlantic City, Sugar Hill Subs in Mays Landing and Sack-o-Subs.