STAMFORD, Conn., Sept. 17, 2024 /PRNewswire/ — Olympus Partners is pleased to announce that it has entered into an agreement to sell Minneapolis-based Rise Baking Company (“Rise”). Rise is the leading North American bakery manufacturer producing a broad portfolio of products such as cookies, cakes, pies, muffins and icings for in-store bakeries and foodservice customers, including leading national grocery chains, convenience stores, QSRs, and mass merchandisers. Rise has almost 4,000 employees with 20 manufacturing facilities across North America.
With the sale of Rise, Olympus has returned over $6 billion to its investors in the past three years.
Under Olympus’ ownership, Rise transformed into the leading provider of in-store bakery products in North America. Since Olympus’ initial investment in 2018, Rise completed several significant acquisitions including Brill, Dawn Frozen Products division, Wonder Brands Pies, and Table Talk Pies.
“Rise Baking Company is a tremendous business with the strongest team in the industry. Working with Brian Zellmer and the entire management team to help grow Rise into the premium in-store bakery platform in North America has been an amazing experience. We are immensely proud of the incredible growth that Rise has been able to generate, but more importantly we are proud of our true partnership with the Rise team. Rise Baking Company is extremely well positioned for the future, and we look forward to watching Rise achieve even greater success,” said Mike Horgan, Partner at Olympus.
“We’ve had a remarkable partnership with the team at Olympus. Their practical advice, operational insights and financial support have been central to achieving our growth. We have great momentum and are enthusiastic about the future under new ownership,” said Rise CEO, Brian Zellmer.
The Olympus team included Mike Horgan, Jim Conroy, Griffin Barstis, Sid Ahuja, Marty Durkin, Sam Greenberg and Matt Bujor. Rise and Olympus were advised by Morgan Stanley as lead financial advisor in addition to Harris Williams and by Matt Goulding and Cameron Leishman from Kirkland & Ellis LLP.
ABOUT OLYMPUS PARTNERS
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $10 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, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.
SOURCE Olympus Partners
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In