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December 5th, 2023

Rise Baking Company Adds a New Slice to Its Portfolio with Acquisition of Pies

Rise Baking Company (“Rise”), a Minneapolis-based portfolio company of Olympus Partners, has acquired two pie facilities from Wonder Brands Holdings Inc. and FGF Brands (USA) Inc. (“Pies”). Pies is a leading, scaled, full-line pies platform servicing the retail channel across North America with two facilities in Kent, Washington, and Brampton, Ontario. Rise is a leading provider of premium cookies, cakes, brownies, muffins, dessert bars, icings, artisan breads and flatbreads in North America to retail bakeries as well as foodservice providers. The combined business will have 18 facilities across the U.S. and Canada.

“Rise prides itself on a culture of customer focus, teamwork, and innovation,” said Brian Zellmer, CEO of Rise. “Expanding into the Pie category continues to broaden our portfolio, giving Rise a greater presence in the bakery market and enabling us to provide even greater service across all major categories to drive growth and strengthen key customer relationships.”

Mike Horgan, partner at Olympus added: “We are excited to continue to support the Rise Baking team. The Pies acquisition continues Rise’s strategy of expanding their product offering into complementary categories to the benefit of Rise’s customers. The Rise team has developed an unparalleled organization through both organic growth and strategic acquisitions with a proven ability to effectively integrate and grow newly acquired businesses.”

The Olympus team included Mike Horgan, Jim Conroy, Griffin Barstis, Sid Ahuja and Marty Durkin. Olympus was represented by Matt Goulding and Cameron Leishman from Kirkland & Ellis LLP.

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