Olympus acquires Minnesota-based baked goods company Rise Baking

US-based private equity firm Olympus Partners has acquired Minnesota-based baked goods company Rise Baking from Arbor Investments.

Headquartered in Minneapolis, Rise produces cookies, dessert bars, artisan breads, and flatbreads, which are supplied to in-store bakery, foodservice and convenience channels in North America.

Rise CEO Mike Schultz said: “The entire team is excited to partner with Olympus to continue growing Rise Baking into a North American bakery leader.

“We have found another great partner who fully supports our team, our employees and our future plans. Olympus is the right partner to help Rise continue to grow in the coming years.”

The Minnesota-based baked goods company has also expanded its geographical presence and enhanced its offerings portfolio through multiple acquisitions.

Currently, Rise operates six facilities in North America and employs more than 1,000 people at these facilities.

Established in 1988, Olympus is a Connecticut-based company providing equity capital for middle market management buyouts and for companies needing capital for expansion.

Olympus has been an active investor in a wide range of industries, including food services, business services, consumer products and manufacturing.

Olympus manages more than $8.5bn on behalf of corporate pension funds, endowment funds and state-sponsored retirement programmes.

Olympus’ partner Mike Horgan said: “The Rise management team has built a remarkable business that has led to impressive growth across all of their products and customers. Rise is a well-invested and highly attractive business in the bakery sector.”