Rise Baking Company, a Minneapolis-based firm and portfolio company of Olympus Partners, has acquired Table Talk Pies, a renowned 100-year-old Massachusetts company known for its snack-size pies. The announcement came on Friday, marking a significant milestone for both companies.

Table Talk Pies, founded in 1924, is famous for baking millions of 4-inch snack pies every year, along with larger 8-inch, 9-inch, and 10-inch dessert pies that are distributed throughout North America. Despite the change in ownership, Table Talk Pies will continue to operate under its original name and retain its headquarters in Worcester.

Executives at Table Talk Pies have reassured that day-to-day operations will remain largely unaffected by the acquisition. In fact, the deal with Rise Baking Company is anticipated to bring additional production volume to Table Talk's facilities in central Massachusetts, potentially leading to an expansion of the company's current workforce of 350 employees.

Harry Kokkinis, the executive chairman of the board and grandson of Table Talk Pies' founder, expressed confidence in Rise Baking Company's capabilities and integrity, stating that he believes they will uphold the Table Talk legacy and take care of the hardworking employees who have contributed to the company's success.

Cliff Rucker, director of Table Talk Pies, echoed these sentiments, expressing his excitement about the partnership with Rise Baking Company and its potential to secure the future success of the Table Talk Pies brand. Rucker emphasized how Table Talk holds great significance for many individuals, and the primary goal of this acquisition was to stabilize the brand and ensure its preservation.

With the addition of Table Talk Pies, Rise Baking Company's expanding portfolio now includes prominent brands such as Brill, South Coast Baking, Best Maid Cookie Company, Henry & Henry, New French Bakery, Bakestone Brothers, and Karp's. The acquisition has also increased the number of manufacturing facilities to 20, spread across the United States and Canada, employing an estimated total of 3,700 individuals.

Brian Zellmer, the CEO of Rise Baking Company, expressed his excitement in welcoming the Table Talk team to the Rise family. Zellmer mentioned that they aim to expand their presence in the pie industry and unlock new opportunities while preserving the valued heritage of the Table Talk brand.

This acquisition comes at a time when Rise Baking Company is experiencing significant growth. Mike Horgan, a partner at Olympus Partners, commended Rise on their ability to develop and implement successful business strategies that continue to expand their existing and newly acquired brands.

According to a Reuters report from January, Olympus Partners had been exploring a potential sale process for Rise Baking Company with an estimated value of $2.5 billion.

The acquisition of Table Talk Pies by Rise Baking Company signifies a strategic move to strengthen both companies' positions in the competitive bakery industry. With their shared dedication to quality and tradition, this partnership promises to bring forth exciting opportunities for growth and success for both entities in the years to come.