Worcester Business Journal

4 Worcester Business Journal | June 24, 2024 | wbjournal.com I N B R I E F Funding research "We have strong evidence of the treatment's success in the preclinical phase and look forward to our collaborators manufacturing a potentially life-saving drug that can actually be given to our children." Jo Kaur, co-founder of New York-based nonprofit Riaan Research Initiative, on her organization's $2.2 million donation to UMass Chan Medical School in Worcester to fund the development of treatment for Cockayne syndrome CEO stepping down "I'm so proud of The Hanover Theatre and its countless contributions to our city and region. Today, it is a vibrant center of culture, education, and community. I'm equally excited about the potential that lies ahead." Troy Siebels on his decision to step down as president and CEO of Worcester Center for Performing Arts, the nonprofit that owns The Hanover Theatre & Conservatory for the Performing Arts, after a 20-year tenure with the organization New CEO "The opportunity to lead this organization, which I credit with helping to save my life when I was struggling to find my own path to recovery from substance-use disorder, is incredibly humbling." Shawn Hayden, former patient of the Gardner-based nonprofit GAAMHA, on his promotion to president and CEO of the mental health services provider BY ERIC CASEY WBJ Staff Writer W orcester manufacturer Table Talk Pies, which has operated in the city for 100 years, has been sold to Rise Bakery Co., the Minnesota-based firm owner of a number of food- related brands, which itself is owned by Connecticut-based private equity company. Table Talk will continue to operate out of its Gardner Street headquarters, and the acquisition will not result in major changes to day-to-day operations, according to a June 14 press release from Table Talk. e headquarters was completed in October 2021; Table Talk previously operated from a building in Kelley Square. Terms of the deal were not disclosed. Table Talk stated this deal is expected to bring additional production volume to its Central Massachusetts facilities but did not offer specifics. Table Talk has 250 employees in Central Massachusetts, according to the WBJ Research Department, which makes it the 138th largest employer in the region. Rise Bakery Co. was founded in 2013, according to the company's website. Brands in Rise's portfolio include Brill, Best Maid, Henry & Henry, and Karp's. Table Talk Pies sold to Minnesota bakery business backed by private equity firm A worker adds fruit to the mix for Worcester manufac- turer Table Talk Pies, which is known for its snack-size desserts. e bulk of the company's offerings appear to be selling ready-to-bake wholesale products to bakeries or industrial kitchens, rather than pre- packaged products sold to grocery stores and other retail outlets. Rise Bakery Co. is part of the portfolio of Olympus Partners, a private equity firm founded in 1988 and based in Stamford, Connecticut. Other investments in Olympus' portfolio include International Wire Group, a New York-based wire manufacturer, and AmSpec, a New Jersey-based provider of testing, inspection, and certification services for the chemical, oil and gas sectors, according to Olympus' website. Olympus was exploring a sale of Rise for a potential value of $2.5 billion as of January, according to reporting by Reuters. Founded in 1924, Table Talk Pies is led by Isaac Long, who took over for third- generation leader Harry Kokkinis in June 2023. e company produces millions of snack pies each year, according to the press release. "is is an exciting time for Table Talk Pies, and this agreement with Rise Baking Company will help preserve the Table Talk Pies brand for years to come," Cliff Rucker, owner and governor of the Worcester Railers and director of Table Talk Pies, said in the press release. "Table Talk is a brand that means so much to so many people. When we entered this partnership, the goal was to make sure the brand would be stabilized and set up for future success. Rise Baking Company is a well-established and highly respected firm in bakery, making this partnership an ideal fit to accomplish that goal." Rucker, a member of the 2024 WBJ Power 100, led an effort with other local business figures to save Table Talk in late 2022, when the company faced financial difficulties. Table Talk Pies join the Worcester Red Sox as a high-profile Central Massachusetts business purchased by a company backed by a private equity firm; the team was sold to New York-based Diamond Baseball Holdings, a company backed by Silver Lake, a California-based investment firm, in December. W PHOTOS | WBJ FILE

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