CHICAGO — Pritzker Non-public Capital (PPC) and HF Money have obtained a substantial stake in Monogram Foodstuff, a Memphis, Tenn.-centered company of meat treats, corn pet dogs, frozen appetizers, sizzling puppies, sausages, precooked bacon and portable snack and sandwich assembly. Economic phrases of the expense have been not disclosed.
Existing house owners, like co-founders Karl Schledwitz and Wes Jackson, and other customers of Monogram Foods’ administration will keep on being significant entrepreneurs and will continue on to direct the enterprise, the providers stated.
Established in 2004, Monogram operates 10 producing areas across 6 states and has additional than 3,000 personnel, The company performs a significant part in the source chain for its co-production, non-public label and foodservice clients.
“Monogram Foodstuff is an founded leader in the ready food items business with best-in-course manufacturing capabilities and a longstanding determination to foods security, sustainability and social influence,” said Chris Trick, investment partner at PPC. “Monogram is led by a globe-course management crew and has major industry positions in its types and powerful possibilities for prolonged-phrase progress and growth. We are thrilled to lover with Karl and the team and help Monogram in its next phase of growth.”
Schledwitz claimed PPC is the “ideal partner” to assist Monogram’s upcoming chapter of expansion. Monogram already this 12 months has obtained Denison, Iowa-centered Good quality Food Processors and declared ideas to construct a new 135,000-sq.-foot foodstuff creation plant and distribution middle in Haverhill, Mass. The facility will provide as a distribution centre for Monogram Foods’ creation amenities in the Higher Boston area and expects functions to commence in April 2022.
“This partnership will assistance our corporation improve as a result of strategic acquisitions, extend our nationwide facility footprint, bolster our R&D capabilities and provide new possibilities for our gifted team,” Schledwitz explained.
PPC associates with middle-industry providers based mostly in North America with foremost positions in the created merchandise, companies and wellness treatment sectors. The firm’s portfolio contains CH Guenther & Son, a producer of a variety of branded and private label food stuff merchandise for foodservice, speedy-assistance cafe, club and retail customers. PPC obtained San Antonio-centered CH Guenther & Son in 2018.
HF Funds invests funds on behalf of the Haslam relatives, based mostly in Knoxville, Tenn. This consists of direct investments in functioning providers as nicely as investment decision commitments to extraordinary managers of liquid and illiquid investments across a spectrum of asset classes and geographies.