Minneapolis-based Rise Baking Company announced that it has been acquired by global investment firms Platinum Equity and Butterfly.
Founded in 2013, Rise is a leading provider of cookies, pies, cakes, icings, muffins, crispy bars and more to retail bakeries, foodservice operators and distributors in North America. Rise will continue to operate under its current management team, led by Chief Executive Officer Brian Zellmer.
In June of this year, Rise acquired Worcester, Massachusetts-based Table Talk Pies, completing Rise's tenth acquisition since its founding. Through these acquisitions, Rise has built an industry-leading product portfolio comprised of trusted brands, such as Brill, South Coast, Best Maid and more. With a well-diversified portfolio of bakery products and experience, Rise helps customers grow their businesses by offering not just an extensive lineup of high-quality products but also unparalleled support and industry expertise.
The transaction is expected to close in Q4 2024. Platinum Equity and Butterfly will be equal partners in the investment. Financial terms of the transaction were not disclosed.
