February 25, 2020

4 Min Read
Sara Lee Frozen Bakery to Buy Frozen Baked Goods Firm

Frozen bakery and dessert products manufacturer Sara Lee Frozen Bakery entered into a definitive agreement to acquire Spokane, WA-based frozen pies manufacturer Cyrus O’Leary’s Pies to grow its presence in the in-store bakery (ISB) category, the company said in a press release Monday. 

“We are delighted to add Cyrus O’Leary’s extensive variety of delicious pies to our iconic product portfolio,” Sara Lee Frozen Bakery Chief Executive Officer Craig Bahner said in a statement. “As we look to expand our competitive presence in the ISB category, Cyrus O’Leary 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.”

Founded as a restaurant in 1981, Cyrus O’Leary’s has grown over the years to become a nationally distributed brand of gourmet pies. The firm has won 168 first place awards at the National Pie Championships during the past two decades, according to Sara Lee Frozen Bakery. 

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“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,” Barclay Klingel, chief executive officer of Cyrus O’Leary’s, said in the release. “We are especially excited about the cultural fit, as both companies have similar values centered around team member, maintaining uncompromising quality standards, and delivering joy-giving moments to our customers. We expect a huge synergistic effect through this combination.”

The deal is expected to close in the next few weeks. Once the transaction is completed, Klingel will remain in his current position and report to Bahner. 

This January, Sara Lee Frozen Bakery revealed plans to invest $19.8 million in an expansion of its Tarboro, NC production facility. The Tarboro site is one of three bakeries operated by Sara Lee Frozen Bakery in Michigan, Massachusetts, and North Carolina. 

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