Sara Lee Frozen Bakery has signed a definitive agreement to acquire Spokane, Washington-based pie maker Cyrus O’Leary’s Pies.
The transaction is the latest in a series of initiatives at Sara Lee Frozen Bakery aimed at growing its presence in the in-store bakery (I.S.B.) category, which began last August with the acquisition of Superior Cake Products, Inc.
“We are delighted to add Cyrus O’ Leary’s extensive variety of delicious pies to our iconic product portfolio,” said Craig Bahner, chief executive officer at Sara Lee Frozen Bakery. “As we look to expand our competitive presence in the I.S.B. category, 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.”
Cyrus O’Leary’s launched in 1981 as a restaurant before expanding into a nationally distributed gourmet pie brand. The company offers more than 30 varieties of fruit pies, cream pies, single-serve pies and specialty and seasonal pies. Barclay Klingel, c.e.o. of Cyrus O’Leary’s Pies, will remain in his role and report directly to Mr. Bahner.