M&A Deal Summary

Butterfly Equity and Platinum Equity Acquire Rise Baking

On September 17, 2024, private equity firms Butterfly Equity and Platinum Equity acquired food company Rise Baking from Olympus Partners

Acquisition Highlights
  • This is Butterfly Equity’s 4th and Platinum Equity’s 4th transaction in the Food sector.
  • This is Butterfly Equity’s 8th and Platinum Equity’s 116th transaction in the United States.
  • This is Butterfly Equity’s 2nd and Platinum Equity’s 5th transaction in Minnesota.

M&A Deal Summary
Date 2024-09-17
Target Rise Baking
Sector Food
Buyer(s) Butterfly Equity
Platinum Equity
Sellers(s) Olympus Partners
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Harris Williams (Financial)

Target

Rise Baking

Minneapolis, Minnesota, United States
Rise Baking is a manufacturer of premium cookies, dessert bars, artisan breads, and flatbreads. Rise Baking was founded in 2013 and is based in Minneapolis, Minnesota.

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Buyer(S) 2

Buyer

Butterfly Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Butterfly Equity is a private equity firm focused on the food sector. The Firm will consider opportunities spanning the entire food chain include agriculture, aquaculture, food, beverages, food distribution, and food service. Butterfly Equity was formed in 2016 and is headquartered in Beverly Hills, California.

DEAL STATS #
Overall 9 of 9
Sector (Food) 4 of 4
Type (Secondary Buyout) 2 of 2
State (Minnesota) 2 of 2
Country (United States) 8 of 8
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-23 Milk Specialties Global

Eden Prairie, Minnesota, United States

Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

Buy -
Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 147 of 150
Sector (Food) 4 of 6
Type (Secondary Buyout) 41 of 41
State (Minnesota) 5 of 5
Country (United States) 116 of 118
Year (2024) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-29 Inventia Healthcare

Mumbai, India

Inventia Healthcare specializes in the development and manufacturing of novel drug delivery systems. Inventia Healthcare focuses on creating innovative drug formulations to serve clients across the pharmaceutical industry. Inventia Healthcare is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-18 Polli

Milan, Italy

Polli specializes in preserved vegetables, including pickled and oil-packed products. Polli was founded in 1872 and is based in Milan, Italy.

Buy -

Seller(S) 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 50 of 50
Sector (Food) 2 of 2
Type (Secondary Buyout) 14 of 14
State (Minnesota) 2 of 2
Country (United States) 47 of 47
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 Soliant Health

Peachtree Corners, Georgia, United States

Soliant Health is a provider of healthcare staffing solutions. The company also provides travel nurses, allied health clinicians and clinical development specialists for the life sciences market. Soliant Health was founded in 1991 and is based in Peachtree Corners, Georgia.

Sell $2.5B
Mergr

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