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.
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SOURCE Olympus Partners