Private equity firm Olympus Partners has acquired bakery product manufacturer Rise Baking Company from Arbor Investments for an undisclosed sum.
Rise manufacturers products such as premium cookies, dessert bars, artisan breads, and flatbreads to foodservice customers and retailers throughout the North American market.
Headquartered in Minnesota, Rise operates six manufacturing facilities in North America, employing over 1,000 people.
Mike Schultz, CEO of Rise Baking Company said: “The entire team is excited to partner with Olympus to continue growing Rise Baking into a North American bakery leader.
“We have found another great partner who fully supports our team, our employees and our future plans. Olympus is the right partner to help Rise continue to grow in the coming years.”
Mike Horgan, a Partner at Olympus added: “The Rise management team has built a remarkable business that has led to impressive growth across all of their products and customers. Rise is a well-invested and highly attractive business in the bakery sector.
Jim Conroy, managing partner at Olympus said: “We are thrilled to back this team as they continue to grow their existing business and pursue transformational acquisitions.”
© FoodBev Media Ltd 2019
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