Rise Baking Company Adds a New Slice to Its Portfolio with Acquisition of Pies

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Dec 05, 2023, 09:00 ET

MINNEAPOLIS, Dec. 5, 2023 /PRNewswire/ -- Rise Baking Company ("Rise"), a Minneapolis-based portfolio company of Olympus Partners, has acquired two pie facilities from Wonder Brands Holdings Inc. and FGF Brands (USA) Inc. ("Pies"). Pies is a leading, scaled, full-line pies platform servicing the retail channel across North America with two facilities in Kent, Washington, and Brampton, Ontario. Rise is a leading provider of premium cookies, cakes, brownies, muffins, dessert bars, icings, artisan breads and flatbreads in North America to retail bakeries as well as foodservice providers. The combined business will have 18 facilities across the U.S. and Canada.

"Rise prides itself on a culture of customer focus, teamwork, and innovation," said Brian Zellmer, CEO of Rise. "Expanding into the Pie category continues to broaden our portfolio, giving Rise a greater presence in the bakery market and enabling us to provide even greater service across all major categories to drive growth and strengthen key customer relationships."

Mike Horgan, partner at Olympus added: "We are excited to continue to support the Rise Baking team. The Pies acquisition continues Rise's strategy of expanding their product offering into complementary categories to the benefit of Rise's customers. The Rise team has developed an unparalleled organization through both organic growth and strategic acquisitions with a proven ability to effectively integrate and grow newly acquired businesses."

The Olympus team included Mike Horgan, Jim Conroy, Griffin Barstis, Sid Ahuja and Marty Durkin. Olympus was represented by Matt Goulding and Cameron Leishman from Kirkland & Ellis LLP.

ABOUT RISE BAKING COMPANY

Rise Baking Company, based in Minneapolis, Minnesota, a North American bakery manufacturer, produces a broad portfolio of products for in-store bakeries and foodservice customers. Rise's customers include the leading national grocery chains, convenience stores, QSRs and mass merchandisers. Rise operates with an unparalleled customer-first culture, resulting in best-in-class product innovation, quality and service. Rise Baking Company believes "our finest ingredient is our people." For more information, please visit https://www.risebakingcompany.com/.

ABOUT OLYMPUS PARTNERS

Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services and manufacturing.

SOURCE Olympus Partners