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.
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SOURCE Olympus Partners