Rise Baking Company sold to Olympus Partners

Harris Williams, a middle market investment bank focused on the advisory needs of international clients, announced the sale of Rise Baking Company (Rise,) a portfolio company of Arbor Private Investment Company (Arbor), to Olympus Partners (Olympus.)

 
Rise, based in Minneapolis, Minnesota, is a provider of bakery products including cookies, dessert bars, artisan breads and flatbreads. Harris Williams extends its track record in the sector with this transaction, led by Tim Alexander, Brant Cash, Andy Warczak and Richard Furseth of the firm’s Consumer Group.

“Through consistent organic growth and multiple acquisitions, Rise has emerged as a leader in North American bakery. With Arbor’s support, management integrated multiple businesses and innovated new products to build a highly sought after platform,” said Tim Alexander, a managing director at Harris Williams in a press release. “Scalable food companies with a runway for organic and acquisition growth are scarce assets garnering significant attention from buyers in the current M&A market.”

“Investor interest in the bakery sector is extremely high. Consumers are demanding higher quality baked goods, and retailers and foodservice operators need suppliers like Rise to offer upscale bakery items that differentiate from the competition and reduce labour costs,” added Brant Cash, a director at Harris Williams. “Innovative suppliers with quality products are benefitting from the industry dynamics and should continue to see success in this market.”

Founded in 1999 and headquartered in Chicago, Illinois, Arbor is a specialized private equity firm that focuses exclusively on acquiring premier companies in the food, beverage and related industries. The firm has acquired or invested in over 52 food, beverage and related companies in North America.

Founded in 1988, Olympus is a private equity fund that invests capital in late-stage growth companies and middle market management buyouts. Olympus has invested in over 70 companies and raised over $8.5 billion in seven institutional funds. Rise will be an investment in Olympus Growth Fund VI which has committed capital of $2.3 billion.