Rise Baking Company, the US-based biscuits and flatbread maker, has entered an agreement to purchase the frozen bakery division of ingredients supplier Dawn Foods.
Owned by private-equity firm Olympus Partners, Minneapolis-based Rise Baking supplies retail and foodservice channels across North America. The deal will see it take ownership of Dawn Foods frozen plants in York, Pennsylvania, Atlanta in Georgia, Mantenoin in Illinois, and Mexico in Missouri. All employees at those sites will transfer over to the new owner.
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Mike Schultz, the chief executive of Rise Baking, said: “The Dawn frozen bakery division is a perfect fit for Rise as we look to bring additional products and innovation to the marketplace. We look forward to welcoming our new teammates to Rise Baking.”
Dawn Foods is disposing of the business to concentrate resources on its key product area, ingredients. No financial details were disclosed.
“As we prepare for the next 100 years, our ingredients business, which has been the foundation for Dawn’s growth, is at the centre of our long-term strategy,” said CEO Carrie Jones-Barber. “The sale of our frozen manufacturing business in North America to Rise Baking Company is the right move for Dawn and enables us to continue to leverage our insights to develop groundbreaking bakery ingredient innovations and invest in our ingredient plants and digital future.
“For some time, the frozen bakery market has been consolidating and this sale gives our frozen business and team members a new home at a company where frozen bakery is the focus.”
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By GlobalDataOn completion of the agreement, Rise Baking said its portfolio will now include cakes, muffins, croissants, and cinnamon rolls produced across 11 facilities in the US and Canada.
