Rise Baking Company Announces Acquisition of Table Talk Pies, Inc.

Rise Thinks Big and Goes Small, Acquires Table Talk

MINNEAPOLIS, June 14, 2024 /PRNewswire/ -- Leading bakery manufacturer Rise Baking Company (Rise) announced today that it has acquired Worcester, MA-based Table Talk Pies, Inc. (Table Talk).

Making freshly baked pies in Worcester, MA, since 1924, family-owned Table Talk is one of the country's leading full-line pie producers, specializing in 4-inch snack pies and 8-inch to 10-inch dessert pies.

Table Talk President Isaac Long, expressed, "Rise's commitment to innovation and uncompromising quality aligns perfectly with Table Talk's values, making this a win-win opportunity that sets Table Talk up for success going forward. We're excited to bring our century of experience and expertise in the pie industry to the Rise platform, joining its trusted brands in delivering exceptional quality and continued growth. We remain committed to our customers, the partnerships we've built, and driving innovation in the category together."

A portfolio company of the private equity firm Olympus Partners, Rise is a leading provider of premium cookies, icings, cakes, pies, muffins, brownies, dessert bars, artisan breads, and flatbreads in North America to retail bakeries, foodservice operators, and distributors.

"We're excited to welcome Table Talk and its employees to the Rise team," said Brian Zellmer, CEO of the Minneapolis-based Rise Baking Company. "As our second pie acquisition, we're eager to grow our slice of the pie industry, unlocking new possibilities while preserving the valued heritage of the Table Talk brand."

Already under the Rise umbrella are the trusted brands Brill, South Coast Baking, Best Maid Cookie Company, Henry & Henry, New French Bakery, Bakestone Brothers, and Karp's. With the Table Talk acquisition, the combined business will now have 20 Rise Baking Company manufacturing facilities across the US and Canada with an estimated 3,700 total employees.

"We're thrilled to see Rise grow in the pie category, continuing to expand their offerings to better serve their customer base," said Mike Horgan, Partner at Olympus Partners. "The Rise team continues to demonstrate an exceptional ability to create and implement business strategies that grow their existing and newly acquired brands."

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

About Rise Baking Company
Rise Baking Company, based in Minneapolis, MN, is a North American bakery manufacturer that produces a broad portfolio of products for in-store bakeries and foodservice customers, including 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 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