Stamford, Connecticut-based private equity firm Olympus Partners has acquired Rise Baking Co. from another private equity firm, Arbor Investments.
Rise Baking is a manufacturer of premium cookies, dessert bars, artisan breads and flatbreads. Headquartered in Minneapolis, Minnesota, it is a supplier to the in-store bakery, foodservice and convenience channels in North America.
Rise employs more than 1,000 people across six facilities in North America.
According to Olympus Partners, Rise Baking Co.—led by CEO Mike Schultz—has a deep and experienced team that has proven to be a value-added partner to its customers, driving consistent organic growth.
“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,” said Mike Horgan, an Olympus partner.
Jim Conroy, a managing partner at Olympus, added, “We are thrilled to back this team as they continue to grow their existing business and pursue transformational acquisitions.”
Commenting on the purchase, Schultz 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.”
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle-market management buyouts and for companies needing capital for expansion. Olympus is a long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.
Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
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