JACKSON, Mich. and MINNEAPOLIS, (Friday, March 20, 2020) – Global bakery manufacturer and ingredients supplier Dawn Foods announced today 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.
About Dawn Food Products, Inc.
Global bakery manufacturer and ingredients supplier Dawn Foods has established itself as the premier bakery service provider, inspiring bakery success every day. Committed to delighting its customers around the world, Dawn Foods delivers the partnership, insights, innovations, products and bakery expertise that empowers them to achieve their aspirations. Headquartered in Jackson, Michigan, Dawn Foods partners with more than 40,000 artisanal and retail bakers, food service leaders and manufacturers located in more than 100 countries and has 4,000 Team Members globally. For 100 years, Dawn Foods has been a trusted advisor to its customers, helping drive their business forward. For more information about the company, its products and culture, please visit www.dawnfoods.com.
About Rise Baking Company
Rise Baking Company, a North American bakery manufacturer renowned for innovation, produces frozen cookie dough, baked cookies, crispy bars, artisan breads, and flatbreads for in-store bakeries and foodservice markets. Rise customers include national grocery chains, convenience stores, QSRs and mass merchandisers. Rise operates with an unparalleled customer first culture, resulting in best-in-class product innovation, quality, and service. Rise Baking believes “our finest ingredient is our people.” For more information about the company and its products, please visit risebakingcompany.com.
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