Dessert products manufacturer Sara Lee Frozen Bakery has entered into an agreement to acquire Cyrus O’Leary’s Pies.
The Washington state-based pie maker is the most recent acquisition that accelerates Sara Lee’s goal of expanding its presence in the in-store bakery (ISB) category that began with the purchase of Superior Cake Products last year.
“We are delighted to add Cyrus O’ Leary’s extensive variety of delicious pies to our iconic product portfolio,” said Craig Bahner, CEO of Sara Lee Frozen Bakery.
“As we look to expand our competitive presence in the ISB category, Cyrus O’Leary’s impressive 40-year pie legacy and their in-store bakery leadership will help us achieve our strategic growth plan and continue providing our customers with more irresistible indulgences.”
Cyrus O’Leary’s started as a restaurant in 1981 and grew to a nationally distributed pie brand. Baked with made-from-scratch ingredients, its portfolio includes both fruit and cream pies as well as specialty and seasonal variants.
Barclay Klingel, who will remain as CEO of Cyrus O’ Leary’s Pies, said: “We are thrilled to be recognised as another premier brand in the Sara Lee Frozen Bakery family. It’s a huge honour and privilege to join forces with Sara Lee Frozen Bakery and help drive their growth initiatives.
“We are especially excited about the cultural fit, as both companies have similar values centered around our team members, maintaining uncompromising quality standards and delivering joy-giving moments to our customers. We expect a huge synergistic effect through this combination.”
It is expected the acquisition will close in the coming weeks.
Illinois-headquartered Sara Lee Frozen Bakery was sold by Tyson Foods to private equity firm Kohlberg & Company in 2018.
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