PPC and HF Capital invest in Monogram Foods

Pritzker Private Capital has acquired a significant stake in Memphis-based Monogram Foods, a B2B food manufacturing company.

Pritzker Private Capital has acquired a significant stake in Memphis-based Monogram Foods, a B2B food manufacturing company. HF Capital invested in the deal along with PPC. No financial terms were disclosed.

PRESS RELEASE

CHICAGO – August 31, 2021 – Pritzker Private Capital (“PPC”), a leader in family direct investing, announced today that it has acquired a significant stake in Monogram Foods (“Monogram”), a founder-led company focused on business-to-business food manufacturing for some of the most prominent brands and retailers in the United States. HF Capital, a family investment firm, invested along with PPC. Current owners, including co-founders Karl Schledwitz and Wes Jackson, and other members of management remain significant owners and will continue to lead the business.

Headquartered in Memphis, Tenn., Monogram Foods was founded by Karl Schledwitz and Wes Jackson in 2004 and continues to be led by members of the company’s founding team. The company is a market leader in innovating and manufacturing food products including meat snacks, bacon, corn dogs, appetizers and sandwiches, and operates one of the only USDA-approved bakeries in the U.S. With 10 manufacturing locations across six states and over 3,000 employees, Monogram plays a critical role in the supply chain for its co-manufacturing, private label and foodservice customers.

“Monogram Foods is an established leader in the prepared food industry with best-in-class manufacturing capabilities and a longstanding commitment to food safety, sustainability and social impact,” said Chris Trick, Investment Partner at PPC. “Monogram is led by a world-class management team and has leading market positions in its categories and compelling opportunities for long-term growth and expansion. We are thrilled to partner with Karl and the team and support Monogram in its next phase of growth.”

“Since we founded Monogram Foods in 2004, we’ve built our company guided by a culture of continuous growth, a commitment to safety and a focus on customer service,” said Mr. Schledwitz. “The Pritzker Private Capital team shares our values and is the ideal partner to support our company’s exciting next chapter. This partnership will help our company grow through strategic acquisitions, expand our nationwide facility footprint, strengthen our R&D capabilities and provide new opportunities for our talented team.”

Tony Pritzker, Chairman and CEO at PPC, added, “At Pritzker Private Capital, we look to partner with growth-focused management teams who share our long-term philosophy of building great businesses. We are impressed by Monogram’s commitment to its people, its communities and to food safety and innovation. The company plays a vital role with its diverse customer base, and we’re delighted to partner with the Monogram team.”
Terms of the transaction were not disclosed.

About Monogram Foods
Monogram Foods is a strategic food manufacturer focused on the co-manufacturing, private label, and foodservice channels throughout the United States. Founded in 2004, Monogram Foods manufactures top-quality and innovative food products. Among these are a full range of meat snacks, appetizers, assembled sandwiches, fully-cooked and raw bacon, corn dogs, USDA baked goods, and other convenience products. Monogram Foods is headquartered in Memphis, Tennessee, has over 3,000 employees and operates ten manufacturing facilities in six states.

About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services and healthcare sectors. The firm’s differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit www.ppcpartners.com.

About HF Capital
HF Capital invests capital on behalf of the Haslam family, based in Knoxville, Tennessee. This includes direct investments in operating companies as well as investment commitments to exceptional managers of liquid and illiquid investments across a spectrum of asset classes and geographies. James Haslam, Jr., the family’s patriarch, founded Pilot Corporation in 1958. Today, Pilot is owned by the Haslam family and Berkshire Hathaway.