Table Talk Pies, iconic New England brand, acquired by Rise Baking company
100-year-old company based in Worcester, Massachusetts, known for its snack-size pies
100-year-old company based in Worcester, Massachusetts, known for its snack-size pies
100-year-old company based in Worcester, Massachusetts, known for its snack-size pies
Table Talk Pies, a 100-year-old Massachusetts company well-known for its snack-size pies, is now under new ownership.
Table Talk announced Friday that the company had been acquired by Rise Baking Company, which provides a variety of baked goods to retail bakeries, food service operators and distributors in North America.
Founded in 1924, Table Talk Pies bakes millions of 4-inch snack pies each year and also produces 8-inch, 9-inch and 10-inch dessert pies, which are distributed throughout North America.
Table Talk executives said the Worcester-based company will continue to operate as Table Talk Pies out of its Gardner Street headquarters, and that they do not expect any major changes in the day-to-day operations of the company.
In addition, Table Talk executives said the deal with Rise Baking Company is expected to bring additional production volume to Table Talk's facilities in central Massachusetts, creating the potential to add to the company's workforce of 350 employees.
“I've been very impressed with the people from Rise Baking and their integrity,” Harry Kokkinis, Table Talk Pies executive chairman of the board and grandson of the company's founder, said in a statement. “I'm sure they will be great stewards of the Table Talk legacy and the employees who have worked so hard to make this company great.”
“This is an exciting time for Table Talk Pies, and this agreement with Rise Baking Company will help preserve the Table Talk Pies brand for years to come,” Cliff Rucker, director of Table Talk Pies, said in a statement. “Table Talk is a brand that means so much to so many people. When we entered this partnership, the goal was to make sure the brand would be stabilized and set up for future success. Rise Baking Company is a well-established and highly respected firm in bakery, making this partnership an ideal fit to accomplish that goal.”
Rise Baking Company is based in Minneapolis and is a portfolio company of the private equity firm Olympus Partners.
"We're excited to welcome Table Talk and its employees to the Rise team," Brian Zellmer, Rise Baking Company's chief executive officer, said in a statement. "As our second pie acquisition, we're eager to grow our slice of the pie industry, unlocking new possibilities while preserving the valued heritage of the Table Talk brand."
Other businesses under the Rise Baking Company umbrella include Brill, South Coast Baking, Best Maid Cookie Company, Henry & Henry, New French Bakery, Bakestone Brothers and Karp's.
By acquiring Table Talk Pies, Rise Baking will now have 20 manufacturing facilities across the United States and Canada with an estimated 3,700 total employees.
"We're thrilled to see Rise grow in the pie category, continuing to expand their offerings to better serve their customer base," Mike Horgan, a partner at Olympus Partners, said in a statement. "The Rise team continues to demonstrate an exceptional ability to create and implement business strategies that grow their existing and newly acquired brands."
According to a Reuters report from January, Olympus Partners were exploring a sale process for Rise Baking Company that would net the private equity firm $2.5 billion.
