Sara Lee snaps up National Pie Champion
Washington-based Cyrus O'Leary’s started as a restaurant in 1981, expanding into a gourmet pie brand sold in outlets like Walmart and Kroger in all 50 states and parts of Canada.
The baker produces approximately 13 million made-from-scratch fruit, cream, single-serve and seasonal pies annually, and has won 168 first place awards at the National Pie Championships over the past two decades.
The move further accelerates Chicago-based Sara Lee’s goal to expand its competitive presence in the instore bakery (ISB) category that began with the acquisition of Hostess Brands’ Superior Cake Products in August 2019 for $65m.
“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,” said Craig Bahner, CEO, Sara Lee Frozen Bakery.
Cyrus O’ Leary’s Pies CEO Barclay Klingel will continue to lead the company.
“It’s a huge honour and privilege to join forces with Sara Lee Frozen Bakery and help drive their growth initiatives,” said Klingel.
“We are especially excited about the cultural fit, as both companies have similar values centred around our team members, maintaining uncompromising quality standards and delivering joy-giving moments to our customers.”
Cyrus O’Leary’s provides Sara Lee Frozen Bakery with its first West Coast manufacturing facility.
The deal is expected to close at the end of March.
