Bakery manufacturer and ingredients supplier Dawn Foods has entered an agreement to sell its North American frozen manufacturing business to Rise Baking Company.
The deal will allow Dawn Foods to focus on its core ingredients business including focused investment and product innovation across its ingredients portfolio.
Headquartered in Minnesota, Rise Baking Company specialises in the manufacturing of premium cookies, dessert bars, artisan breads and flatbreads for in-store bakeries and foodservice and convenience channels in North America.
The sale includes Dawn’s North America frozen plants in Pennsylvania, Georgia, Illinois and Missouri.
The acquisition will expand Rise Baking’s North American manufacturing footprint and baked goods product portfolio to include cakes, muffins, croissants and cinnamon rolls across 11 facilities in the US and Canada.
Following completion of the deal, team members at the facilities involved, as well as the team members leading the business and associated customer relationships, will transition to the Rise Baking Company.
“As we prepare for the next 100 years, our ingredients business, which has been the foundation for Dawn’s growth, is at the centre of our long-term strategy,” said Carrie Jones-Barber, CEO of Dawn Foods.
Jones-Barber added: “The sale of our frozen manufacturing business in North America to Rise Baking Company is the right move for Dawn and enables us to continue to leverage our insights to develop ground-breaking bakery ingredient innovations and invest in our ingredient plants and digital future.
“For some time, the frozen bakery market has been consolidating and this sale gives our frozen business and team members a new home at a company where frozen bakery is the focus.”
The deal, which is expected to close in the next two months, marks Rise Baking’s seventh acquisition since 2013.
Rise Baking Company CEO Mike Schultz said: “Rise prides itself on a culture of customer focus, teamwork and innovation. The Dawn frozen bakery division is a perfect fit for Rise as we look to bring additional products and innovation to the marketplace. We look forward to welcoming our new teammates to Rise Baking.”
In 2018, private equity firm Olympus Partners acquired Rise Baking Company from Arbor Investments for an undisclosed sum.
Last year, meanwhile, Dawn Foods bought Ardent Mills’ Canadian sweet goods business and mix facility in Burlington, Ontario.
© FoodBev Media Ltd 2024