Houlihan Lokey Advises Platinum Equity and Butterfly
Houlihan Lokey is pleased to announce that Platinum Equity and Butterfly have acquired Rise Baking Company (Rise) from Olympus Partners (Olympus). The transaction closed on November 4, 2024.
Founded in 2013 and based in Minneapolis, Minnesota, Rise is a leading supplier of bakery products, including cookies, pies, cakes, icings, muffins, crispy bars, and more to in-store bakeries and foodservice customers throughout North America. Rise has completed 10 acquisitions since its founding and today serves a blue-chip customer base with a well-diversified portfolio of bakery products. The company has created a scalable manufacturing and logistics network that allows it to effectively service national and regional accounts.
Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of more than 50 operating companies that serve customers around the world. Platinum Equity acquires and operates companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 29 years, Platinum Equity has completed more than 450 acquisitions.
Butterfly is a Los Angeles, California-based private equity firm specializing in the food sector, spanning the entire food value chain from “seed to fork” via four key segments: upstream and processing, B2B service providers, multi-site, and branded goods. Butterfly manages more than $4 billion of assets to date and aims to generate attractive investment returns through deep industry specialization, a disciplined and data-driven investment process, and a hands-on approach to portfolio transformation.
Olympus is a private equity firm focused on providing equity capital for middle-market management buyouts and companies needing capital for expansion. Olympus manages funds in excess of $8.5 billion, mainly on behalf of corporate pension funds, endowment funds, and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries, including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing.
Houlihan Lokey served as the financial advisor to Platinum Equity and Butterfly. This deal reinforces Houlihan Lokey’s strong franchise in the North American bakery sector. Houlihan Lokey has advised on numerous landmark North American bakery transactions, including deals involving Aryzta, Banneton Bakery, C.H. Guenther & Son, Dessert Holdings, Give & Go, Steven Charles, Venice Bakery, and Weston Foods, among others.
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