CRESCENDA ANNOUNCES THE SALE OF CADY CHEESE FACTORY
Minneapolis, Minnesota – Crescenda Investment Banking Advisors announced that its client, Cady Cheese Factory, Inc. has been acquired by Burnett Dairy Cooperative. The deal closed on November 15.
Cady is a specialty cheese manufacturing, distribution and retail marketing company located in Wilson, WI, which began as a small farmers’ co-op around the year 1908. Dale and Wendy Marcott bought the company in 1978 and built it into one of the most innovative, technologically advanced and automated cheese plants in the country. Cady produces over 50,000 pounds of different varieties of longhorn cheeses each day and does over $30 million in annual sales.
"We've had a good run," commented Dale Marcott. "My wife Wendy and I are very proud of what we have built over the past 34 years and the quality of the cheeses we manufacture. As we considered retirement, we were looking for a buyer known for their quality that will not only maintain our standard of excellence but has the resources to expand production and product variety. Burnett is a perfect match."
“This strategic acquisition will allow our farmer-owned cooperative to promote our dairy farmers and our world-class cheese products, on a branded platform in key retail, grocery and deli operations, nationwide,” said Dan Dowling, CEO of Burnett Dairy Cooperative. “Currently, a majority of our award-winning products are promoted in the premium food service industry with very little emphasis and focus on the retail segment. This acquisition will provide us the necessary tools to develop and execute an immediate focus in these retail markets while maintaining our dedication to our customers in the food-service industry."
In addition to balancing their go-to-market strategy for food service and the newly added retail markets, Burnett will be able to better balance their milk markets in volatile trading environments and add significant manufacturing capacity for quality cheese and whey products. It will also allow Burnett Dairy to complement its existing product portfolio of award-winning Italian cheese (Mozzarella and Provolone) and premium artisan cheddar products with the award -winning lineup of the Cady Cheese Factory’s specialty cheddar products with specific emphasis on deli-horn Colby.
About Burnett Dairy Cooperative
Burnett Dairy Cooperative is a farmer-owned cooperative established in 1896 and today employs over 250 people with $135 million in annual sales. Burnett Dairy Cooperative is a uniquely diversified company with two vertically integrated divisions; the foods division and the Ag-Services division.
The foods division produces world-class, award-winning cheese products for both retail and food service companies. The Ag-Services division manufactures and markets feed and nutrition products for dairy cows, crop inputs, and energy services which include refined fuels and propane. Both divisions serve their member-owners with unique products, services and markets for their locally produced milk and grain products.
www.cadycheese.com
www.burnettdairy.com
About Crescenda, LLC
Crescenda Investment Banking Advisors (Crescenda, LLC) is a mergers and acquisitions intermediary and investment banking advisory firm specializing in the sale of successful, privately held companies. Crescenda represented Cady Cheese Factory as sell-side advisor.
For more information, please contact:
Jim Odney, Managing Director Crescenda, LLC Ph: (763) 545-1886 jim@crescenda.com