WORCESTER—Less than four months ago, the Table Talk Pie store officially shifted down Green Street to its permanent home in the Canal District at the Worcester Public Market. Now, the beloved bakery, its headquarters located at 58 Gardner St., has been sold.
Bakery manufacturer Rise Baking Company, based in Minneapolis, announced on Friday that it has acquired Table Talk Pies, Inc.
Table Talk was founded in 1924 by Greek immigrants Theodore Tonna and Angelo Cotsidas. In 1958, Table Talk purchased the Frisbie Pie Company, which is widely thought to have inspired the name for the Frisbee. During the 1960s, the business was sold to Beech-Nut but shut down in 1984. It was revived in 1986 by Tonna’s son-in-law, Christo Cocaine, and when he died in 2015 leadership shifted to his son, Harry Kokkinis.
Table Talk is best known for its 4-inch snack pies, although they also produce 8-inch pies. The company makes 180,000 4-inch pies and 80,000 8-inch pies daily in flavors such as blueberry, apple, lemon, chocolate eclair, pineapple, cherry, pumpkin, peach, pecan, banana creme, and chocolate creme. They manufacture Walmart’s 84-cent Freshness Guaranteed, The Bakery collection pies. Of the 250 million pies made annually, 185 million are sold to Walmart.
In 2016, Table Talk Pies announced plans to build a new production plant and open its first retail store in over 20 years. The store opened on Canal Street in Worcester on January 25, 2017.
In January 2020, the company revealed plans to move its Kelley Square bakery to the former Crompton & Knowles Complex in the Main South neighborhood. Partnering with Chacharone Properties, Table Talk broke ground in August of that year on a new 120,000+ square foot bakery, which Kokkinis described as a state-of-the-art, streamlined, and efficient facility.
In June 2023, Isaac Long was named the new president of Table Talk Pies, succeeding Kokkinis, Tonna’s grandson and third-generation leader who became executive chairman.
In a press release, Long said of the sale, “Rise’s commitment to innovation and uncompromising quality aligns perfectly with Table Talk’s values, making this a win-win opportunity that sets Table Talk up for success going forward. We’re excited to bring our century of experience and expertise in the pie industry to the Rise platform, joining its trusted brands in delivering exceptional quality and continued growth. We remain committed to our customers, the partnerships we’ve built, and driving innovation in the category together.”
A portfolio company of the private equity firm Olympus Partners, Rise is a leading provider of premium cookies, icings, cakes, pies, muffins, brownies, dessert bars, artisan breads, and flatbreads in North America to retail bakeries, foodservice operators, and distributors.
“We’re excited to welcome Table Talk and its employees to the Rise team,” said Brian Zellmer, CEO of the Minneapolis-based Rise Baking Company, in an announcement. “As our second pie acquisition, we’re eager to grow our slice of the pie industry, unlocking new possibilities while preserving the valued heritage of the Table Talk brand.”
Brill, South Coast Baking, Best Maid Cookie Company, Henry & Henry, New French Bakery, Bakestone Brothers, and Karp’s are already under the Rise brand umbrella. With the Table Talk acquisition, the combined business now operates 20 Rise Baking Company manufacturing facilities across the US and Canada with an estimated 3,700 total employees.
“We’re thrilled to see Rise grow in the pie category, continuing to expand their offerings to better serve their customer base,” said Mike Horgan, partner at Olympus Partners, in a statement. “The Rise team continues to demonstrate an exceptional ability to create and implement business strategies that grow their existing and newly acquired brands.”
The Olympus team includes Mike Horgan, Jim Conroy, Griffin Barstis, Sid Ahuja, and Marty Durkin. Olympus was represented during the acquisition by Matt Goulding and Cameron Leishman from Kirkland & Ellis LLP.
