Memphis’ Monogram Foods buys Indiana corn dog manufacturer
Memphis-based Monogram Food Solutions completed its acquisition Thursday of a corn dog manufacturer in Bristol, Ind.
Monogram Foods, which makes value-added processed meat snacks, bought Hinsdale Farms with a special focus on retail private label customers and co-packing for other manufacturers.
The Memphis company completed the purchase by raising $12.5 million, mostly from individuals living in the Memphis area, David Dunavant, Monogram’s chief financial officer, said in a prepared statement.
Monogram now has four plants, including ones in Muncie, Ind., Martinsville, Va., and Chandler, Minn.
In Hinsdale, Monogram acquired a 110,000-square- foot plant that employs 300 workers, all of whom will be offered a position with Monogram, said Karl Schledwitz, Monogram’s chairman and chief executive officer.
“The Hinsdale acquisition is a perfect fit for Monogram,” Schledwitz said. “Our goal is to integrate Hinsdale into Monogram’s manufacturing and sales systems as Monogram grows its position among the nation’s leading manufacturers of processed meats. Hinsdale will help us continue to provide consumers with our top-quality meat products that are distributed regionally and nationally.”
Monogram plans to invest $4 million to $5 million in capital improvements at the Hinsdale plant, which will boost production and employment, Schledwitz said.
Monogram bought Hin- sdale Farms from brothers Philip M. Smith and Milton C. Smith, the third generation of their family to operate the business since it was founded in 1945.
Banks involved in financing the deal were Bank of Montreal/Harris Bank (BMO), Wells Fargo and Iberia Bank.
Monogram Food Solutions, founded in 2004 with the purchase of King Cotton and Circle B Brand meats from Sara Lee Corp., now has more than 1,200 employees.
Company-owned brands include: Trail’s Best, Wild Bill’s, Bull’s, Hannah’s, O’Brien’s, Pete’s Pride, King Cotton, Circle B and Farmer’s Pride.
The company also sells and markets licensed brands such as Bass Pro Shops Uncle Buck’s, Johnsonville, Jeff Foxworthy, Team RealTree and Glory Foods.
Danny Snow has been named managing director of the tax executive committee of the American Institute of Certified Public Accountants.
John Mitchell Graves has been chosen to receive the 2012 Distinguished Alumnus Award from Christian Brothers University, and Mark Baricos has been chosen to receive the 2012 Distinguished
Rotary Club of Memphis Central: 11:45 a.m.-1 p.m., 3700 Central. Speaker: Michael Roelker, marketing Young Alumnus Award. Richard “Dick” Gadomski will receive the Brother Lawrence Egbert Distinguished Service Award.
Melissa Thomson has been promoted to account manager at RedRover Sales and Marketing, and Joy Doss has joined RedRover as senior PR/ events strategist, after working for the company as a freelancer.