Bakery ingredients and bakery products manufacturer Dawn Foods has signed an agreement to divest its North American frozen manufacturing business, including several frozen bakery products manufacturing facilities, to Rise Baking Company, the company announced in a recent release.
“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,” Dawn Foods Chief Executive Officer Carrie Jones-Barber said in a statement. “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.”
Under the terms of the deal, Rise Baking will acquire Dawn’s frozen bakery plants in York, PA, Atlanta, Manteno, IL, and Mexico, MO. Staff members at those facilities will join Rise Baking following the transaction, according to the release.
“Rise prides itself on a culture of consumer focus, teamwork, and innovation,” said Rise Baking Chief Executive Officer Mike Schultz in the release. “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.”
Rise Baking currently operates 11 manufacturing facilities in the US and Canada that produce cookies, dessert bars, artisan breads, and flatbreads.
The companies expect the deal to close within the next two months.
Dawn Foods named former Land O’ Lakes executive John Schmitz as President of North America in January, Powder & Bulk Solids reported.
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Source: Thanks https://www.powderbulksolids.com/news/Dawn-Foods-Sheds-Frozen-Bakery-Plants-in-North-America-03-25-2020