Sara Lee Frozen Bakery has announced that they have signed a definitive agreement to acquire Cyrus O’Leary’s Pies. The Spokane, Washington-based pie company is the most recent acquisition that further accelerates Sara Lee Frozen Bakery’s goal of expanding their presence in the in-store bakery (ISB) category that began with the acquisition of Superior Cake Products, Inc., in August 2019.
“We are delighted to add Cyrus O’ Leary’s extensive variety of delicious pies to our iconic product portfolio,” said Craig Bahner, chief executive officer of Sara Lee Frozen Bakery. “As we look to expand our competitive presence in the ISB category, Cyrus O’Leary’s impressive 40-year pie legacy and their in-store bakery leadership will help us achieve our strategic growth plan and continue providing our customers with more irresistible indulgences.”
Renowned for their signature line of premium quality pies, Cyrus O’Leary’s started as a landmark restaurant in 1981 and grew to a nationally distributed gourmet pie brand. Baked with made-from-scratch ingredients, Cyrus O’Leary’s fruit and cream pies have earned a national reputation, winning 168 first place awards at the National Pie Championships over the past 20 years.
“We are thrilled to be recognized as another premier brand in the Sara Lee Frozen Bakery family. It’s a huge honor and privilege to join forces with Sara Lee Frozen Bakery and help drive their growth initiatives,” said Barclay Klingel, CEO of Cyrus O’ Leary’s Pies. “We are especially excited about the cultural fit, as both companies have similar values centered around our team members, maintaining uncompromising quality standards and delivering joy-giving moments to our customers. We expect a huge synergistic effect through this combination.”
Klingel will remain in his role, reporting directly to Bahner.
The acquisition transaction is expected to close in the coming weeks.