Rise Baking Co. has reached an agreement to acquire the North American frozen manufacturing business of Dawn Foods. Financial terms of the transaction were not disclosed.
“Rise prides itself on a culture of customer focus, teamwork and innovation,” said Mike Schultz, chief executive officer of Rise Baking. “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.”
Dawn said the decision to sell its North American frozen manufacturing business will allow it to focus on its core ingredients business and concentrate its investment and execution on delivering growth and product innovation across its ingredients 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 Co. 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, Pa.; Atlanta; Manteno, Ill.; and Mexico, Mo. 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 Co.
By Brian Amick
Source: Food Business News
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