Memphis-based Monogram Foods has completed the acquisition of Golden County Foods, a Plover, Wis., manufacturer of frozen appetizers that entered into Chapter 11 bankruptcy reorganization in May.
The bankruptcy court accepted Monogram’s bid of $37.2 million for Golden County’s assets, which include two facilities in Plover.
Founded in 1991 and owned by GCF Holdings II, the maker of cheese-based appetizers and snacks continued operating after its May 18 bankruptcy filing. Golden County had annual sales of about $100 million.
Monogram CEO Karl Schledwitz announced the hiring of 50 more workers in Plover, which would boost staffing to 600. Monogram employees 2,000 workers in five states. The acquisition is expected to boost 2015 sales to more than $500 million.
The Plover operations will be renamed Monogram Appetizers.
Most of Monogram’s sales are generated from private label production of meat snacks. The company recently was honored for its involvement in President Obama’s Upskilling Initiative for its on-the-job training, pay increases and other benefits targeting front-line workers. As a result of the acquisition, base pay in Plover will be bumped to $10 an hour, up from $9.
