MANTENO — Dawn Foods, a Manteno-based business since 2007, has been sold to a Minneapolis, Minn.-based company which focuses on frozen baking ingredients.
Rise Baking Co., which operates five frozen ingredient locations across the country, purchased the Manteno site along with three other Dawn locations in Pennsylvania, Georgia and Missouri.
The acquisition agreement was reached Friday and an announcement was made Monday. A privately held company, Rise was founded in 2013. It specializes in frozen products such as cookie dough, baked cookies, breads, bagels, pizza pretzels, edible cookie dough and tortillas.
The purchase is not expected to change operations at the Dawn site located at 1340 Sycamore Road in Manteno, which employs 81 people.
Tim Nugent, Manteno mayor and Economic Alliance of Kankakee County president and CEO, said he was pleased to learn the company plans to continue operations in Manteno.
Rise management said employees at these locations as well as management will transition to the company.
“Rise prides itself on a culture of customer focus, teamwork and innovation,” said Mike Schultz, in the statement announcing the transaction. “The Dawn frozen bakery division is a perfect fit for Rise as we look to bring additional products and innovation to the marketplace. We look forward to welcoming our new teammates to Rise Baking.”
Dawn CEO Carrie Jones-Barber said as Dawn prepares for its next 100 years of business, its ingredients business, which has been the foundation of Dawn’s growth, is at the center of the company’s long-term strategy.
She said the sale of the frozen manufacturing business in North America to Rise is the right move for Dawn and enables the company to continue to leverage its insights to develop groundbreaking bakery ingredient innovations and investment in ingredient plants.
“For some time, the frozen bakery market has been consolidating and this sale gives our frozen business and team members a new home at a company where frozen bakery is the focus,” she said.