According to Engelman’s, the deal is its first acquisition and is part of its ‘rapid growth’ strategy to become the leading wholesale bakery to foodservice customers in the Southeast of the US.
The company recently appointed Fred LeFranc, an existing member of its Board of Directors, to lead the company’s wholesale and foodservice baking businesses both organically and with targeted acquisitions.
LeFranc’s primary strategic move at Engelman’s was to draft veteran CFO, Paul Hineman, who will also serve in a broader role for Shoreline to help secure potential foodservice investments throughout the region.
“We are at an opportune moment and we welcome experienced leadership to successfully implement our growth strategy and take advantage of the market opportunities ahead,” said Sammy Engelman, founder and chairman of Engleman’s.
“LeFranc is a business, technology and organisational visionary with a proven track record of execution, [while] Hineman is a results-oriented leader who sets and achieves aggressive goals. Each has a solid understanding of our products and markets.
“H&F’s history and exceptional products complement and further expand our product lines allowing us to reach a broader market of foodservice customers across Atlanta and the Southeast.”
LeFranc brings with him over 40 years’ experience of managing numerous hospitality and technology brands. He is also the founder – and will continue to serve in a manging partner role – of restaurant consultancy firm Results Thru Strategy and an active member of Conscious Capitalism, an organisation that elevates humanity through business.
“This is the first move in our plan to acquire bakeries and grow across the Southeastern United States. H&F has a tremendous reputation and we are excited to add an artisanal line to the Engelman’s product offerings,” said LeFranc.
“My greatest talent is unleashing potential in organisations to provide a foundation for healthy growth. I have found that if one truly engages the employees and focuses on the customer obsessively, the company will prosper.”
Engelman’s – a Shoreline Equity Partners portfolio company – offers a complete line of fresh and frozen bread products baked at its 50,000 sq. ft. SQF level II production facility in Norcross, Georgia. It services a customer base of independent restaurants in the Metro Atlanta area to national foodservice operators.
Financial terms of the transaction were not disclosed.