Minneapolis, Minn.-based Rise Baking Co., has been acquired by equity firms Platinum Equity and Butterfly from Olympus Partners, which made its initial investment in Rise in 2018.
In the last year, Rise has grown through acquisition, most recently adding Table Talk Pies to its portfolio in June 2024. Rise was founded in 2013 and produces cookies, pies, cakes, icings, muffins, crispy bars and more for North American retail bakeries, foodservice operators and distributors. The Table Talk deal was Rise’s 10th acquisition since its founding, the company noted in the release announcing the latest deal.
CEO Brian Zellmer will continue to lead Rise’s current management team post-acquisition, and he was thankful for Olympus’ support for the years under its watch. Rise produces brands such as Brill, South Coast and Best Maid, among others.
The transaction is expected to close in the fourth quarter of this year, with Platinum Equity and Butterfly being equal partners in the investment. Terms were not disclosed.
