APPETITE FOR GROWTH:

Monogram Food Solutions buys TGI Friday’s restaurant supplier for $37.2M.

Monogram Food Solutions LLC has acquired TGI Friday’s restaurant supplier Golden County Foods of Plover, Wisconsin.

Memphis-based Monogram announced the $37.2 million purchase Thursday, when it was confirmed as the successful bidder for the 550-employee business during a bankruptcy court hearing.

Golden County parent GCF Holdings II filed for Chapter 11 bankruptcy reorganization in Delaware on May 15.

The deal brings Monogram a mainstream product line with annual sales of about $100 million, which would raise total annual revenue for the company to about $500 million. Golden County’s two plants make frozen foods including potatoand-cheese appetizers for restaurant chains.

Monogram, launched in 2004 by former Sara Lee Corp. executives and Memphis investor Karl Schledwitz, steadily has grown by acquiring corn dog, beef jerky and other meat product businesses, including King Cotton hot dogs.

Golden County brings the company another line of products with a national market.

“We’re feeling good about it,” said Monogram chief operating officer Don Brunson, former executive vice president of Sara Lee’s Jimmy Dean sausage division.

Adding in Golden County will raise Monogram’s employment level to 2,300 in six states, including 89 at the East Memphis head office.

Monogram served as the stalking horse bidder when it signed an asset purchase agreement with Golden at the time of the bankruptcy filing.