Sara Lee Frozen Bakery, a Chicago based frozen baked goods manufacturer, has agreed to acquire Cyrus O’Leary’s Pies, a Washington-based pie company, for an undisclosed price, as per the food acquisition news.
The deal is said to further fast track Sara Lee Frozen Bakery’s efforts to grow its footprint in the in-store bakery (ISB) category, which started with the acquisition of Superior Cake Products in August 2019.
Craig Bahner – CEO of Sara Lee Frozen Bakery said: “We are delighted to add Cyrus O’ Leary’s extensive variety of delicious pies to our iconic product portfolio.
“As we look to expand our competitive presence in the ISB category, Cyrus O’Leary’s impressive 40-year pie legacy and their in-store bakery leadership will help us achieve our strategic growth plan and continue providing our customers with more irresistible indulgences.”
Cyrus O’Leary, which is headquartered in Spokane, started as a restaurant in 1981 and expanded into a nationwide distributed gourmet pie brand.
Barclay Klingel – CEO of Cyrus O’ Leary’s Pies said: “We are thrilled to be recognized as another premier brand in the Sara Lee Frozen Bakery family. It’s a huge honor and privilege to join forces with Sara Lee Frozen Bakery and help drive their growth initiatives.
“We are especially excited about the cultural fit, as both companies have similar values centered around our team members, maintaining uncompromising quality standards and delivering joy-giving moments to our customers. We expect a huge synergistic effect through this combination.”
Sara Lee Frozen Bakery acquisition of Cyrus O’Leary’s Pies is likely to be wrapped up in the coming weeks.
In 2018, Kohlberg & Company acquired Sara Lee Frozen Bakery from US meat processor Tyson Foods.