Private-label specialist Monogram Foods anticipates 40 percent sales growth this year as a result of the acquisition of Progressive Gourmet, a Wilmington, Mass., processor of frozen appetizers.
Memphis-based Monogram announced the acquisition April 12. It increases the firm’s manufacturing network to eight facilities. Monogram anticipates 2016 sales of $600 million as a result of the acquisition.
Founded in 2004 with the purchase of two units of Sara Lee Corp., Monogram focused on beef jerky and other meat snacks until July’s acquisition of the assets of Golden County Foods, a processor of frozen appetizers in Plover, Wis. Progressive Gourmet will be combined with that business unit to form the frozen appetizer division.
Expansion of the Massachusetts plant is underway, with a goal of doubling sales. The capacity expansion, expected to be completed in mid year, will result in staffing expansion beyond the 100-150 new hires which are immediately underway.
Last year, Monogram completed two expansions of its Martinsville, Va., plant. The capital projects were valued at $43.7 million.