Sara Lee Frozen Bakery acquires Cyrus O'Leary's Pies

Frozen baked goods manufacturer Sara Lee Frozen Bakery said Tuesday it is acquiring Spokane, Washington-based company Cyrus O'Leary's Pies for an undisclosed sum.

Cyrus O'Leary's started as a restaurant in 1981 and grew to a nationally distributed gourmet pie brand. It's fruit and cream pies have earned a national reputation, winning 168 first place awards at the National Pie Championships over the past 20 years, according to Sara Lee officials.

The company produces approximately 13 million pies per year sold at major grocery stores including Walmart and Kroger, according to a Sara Lee spokesman.

"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 Sara Lee Frozen Bakery CEO Craig Bahner.

Cyrus O' Leary's Pies CEO Barclay Klingel will continue to lead the company and report to Bahner.

"We are especially excited about the cultural fit, as both companies have similar values centered around our team members, maintaining uncompromising quality standards and delivering joy-giving moments to our customers," Klingel said.

It's the second acquisition by the Oakbrook Terrace-based company in the past year, part of a strategy to expand the company's presence in the in-store bakery industry, officials said. The company bought Hostess Brands' Superior Cake Products for $65 million in August 2019.

The deal is expected to close at the end of March, the spokesman said.