Rise Baking Company (Rise), a prominent bakery manufacturer backed by private equity firm Olympus Partners, has announced a significant acquisition in the food industry. The company has successfully acquired Table Talk Pies, Inc. (Table Talk), a well-established pie manufacturer based in Worcester, MA. This strategic move, finalized recently, marks Rise’s second acquisition in the pie category and further solidifies its position as a leading provider of baked goods in North America, with the support and vision of Olympus Partners.
Table Talk Pies, a family-owned business with a rich history dating back to 1924, is renowned for its extensive line of pies. Specializing in both 4-inch snack pies and larger 8-inch to 10-inch dessert pies, Table Talk brings a century of expertise in pie production to the Rise platform. Isaac Long, President of Table Talk, emphasized the alignment of values between the two companies, stating, “Rise’s commitment to innovation and uncompromising quality aligns perfectly with Table Talk’s values. This acquisition, supported by Olympus Partners’ portfolio strategy, creates a win-win opportunity that positions Table Talk for continued success.” Long further added, “We are excited to contribute our deep industry experience to Rise, joining their portfolio of trusted brands and driving further innovation together.”
Rise Baking Company, headquartered in Minneapolis and a portfolio company of Olympus Partners, already boasts an impressive portfolio of brands, including Brill, South Coast Baking, Best Maid Cookie Company, Henry & Henry, New French Bakery, Bakestone Brothers, and Karp’s. With the addition of Table Talk, Rise significantly expands its capabilities and market reach. Brian Zellmer, CEO of Rise Baking Company, expressed his enthusiasm: “We’re thrilled to welcome Table Talk and its employees to the Rise team. This acquisition, made possible through the strategic guidance of Olympus Partners, strengthens our presence in the pie industry, allowing us to unlock new opportunities while upholding the esteemed heritage of the Table Talk brand.”
This acquisition will expand Rise Baking Company’s footprint to 20 manufacturing facilities across the United States and Canada, with a combined workforce of approximately 3,700 employees. Mike Horgan, Partner at Olympus Partners, highlighted the strategic rationale behind the acquisition: “We’re excited to see Rise grow in the pie category, continuously broadening their offerings to better serve their clientele. The Rise team, in partnership with Olympus Partners, consistently demonstrates exceptional skill in developing and executing business strategies that foster growth for both existing and newly acquired brands.”
The Olympus Partners team involved in this acquisition alongside Mike Horgan included Jim Conroy, Griffin Barstis, Sid Ahuja, and Marty Durkin. Olympus Partners received legal counsel from Kirkland & Ellis LLP, with Matt Goulding and Cameron Leishman representing the firm. This acquisition underscores Olympus Partners‘ commitment to supporting Rise Baking Company’s strategic growth and expansion within the premium baked goods sector.
