Dawn Foods to sell North American frozen business to Rise Baking Company
Global bakery manufacturer and ingredients supplier Dawn Foods has announced that it has entered into an agreement to sell its North American frozen manufacturing business to Rise Baking Company. This strategic business decision allows Dawn to focus on its core ingredients business, concentrate its investment and execution on delivering growth and product innovation across its ingredients portfolio, and continue to serve customers who look at Dawn every day as North America’s leader in bakery ingredients. The agreement will expand Rise Baking Company’s strategic North American manufacturing footprint and baked goods product portfolio.
“This year marks Dawn’s 100th anniversary, a testament to our brand, high-quality products and exceptional customer service,” said Carrie Jones-Barber, CEO of Dawn Foods. “As we prepare for the next 100 years, our ingredients business, which has been the foundation for Dawn’s growth, is at the center of our long-term strategy. 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."
The sale includes Dawn’s North America frozen plants in York, Pennsylvania; Atlanta, Georgia; Manteno, Illinois and Mexico, Missouri. Team members at those facilities, as well as the team members leading and supporting the business and associated customer relationships, will all transition to the Rise Baking Company.
Rise Baking Company specializes in the manufacturing of premium cookies, dessert bars, artisan breads and flatbreads and has an impressive track record of product innovation, consistent high-quality service and food safety. This reputation has made Rise a premier supplier to the in-store bakery, foodservice and convenience channels in North America. This acquisition will mark Rise’s seventh acquisition since 2013. Upon completion of this agreement, Rise’s product offering will expand to include cakes, muffins, croissants, and cinnamon rolls across 11 facilities in the United States and Canada.
Led by CEO Mike Schultz, Rise has a deep and experienced team, including president Kent Hayden. Rise has proven to be a value-added partner to its customers and has become an industry leader in supplying frozen baked goods to the North American in-store bakery segment as well as the North American foodservice industry.
“Rise prides itself on a culture of customer focus, teamwork and innovation,” said Schultz. “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.”
BMO Capital Markets Corp. acted as Dawn’s exclusive financial advisor for the transaction between Dawn and Rise and the agreement is anticipated to close in the next two months. Over the coming weeks, Rise and Dawn will work together with team members and customers to ensure a smooth transition.