Monogram acquires corn dog company
MEMPHIS – Monogram Food Solutions LLC announced on Sept. 6 that it had acquired Hinsdale Farms, a corn dog manufacturer based in Bristol, Ind. The deal includes Hinsdale’s processing plant, which spans 110,000 sq. ft. and employs 300 workers. Hinsdale is one of the largest makers of corn dogs in the US, specializing in private label retail products and co-packing for other companies.
Karl Schledwitz, chairman and CEO, said in a press release that all of the current employees would be offered the opportunity to continue working at the plant as part of the Monogram team. Schledwitz also said the company plans to invest up to $5 million in the Hinsdale facility in the coming year to increase production and add employees.
According to David Dunavant, Monogram’s CFO, the company raised $12.5 million in new equity to facilitate the deal, mostly from investors residing in the Memphis area. The company was purchased from Philip and Milton Smith, third-generation owners of the family business that was founded in 1945.
“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.”