Tall Tree Foods, a portfolio company of Altamont Capital Partners, has announced the acquisition of Klement Sausage Co. Inc., a leading manufacturer of premium sausage based in Milwaukee, Wis.
Klement's, founded in 1956 by three brothers George, John and Ron Klement, has a portfolio of smoked, fresh and summer sausage, snack sticks and deli meats. Klement's will add to the basis of Tall Tree Foods Holdings Inc., a holding company led by Altamont's operating partner and CEO of Tall Tree, Tim Bruer. The combination will bring additional scale and geographic expansion for Tall Tree as well as adding an attractive portfolio of high quality products, the company said in a statement. Tall Tree will build upon the longstanding heritage and brand equity that the Klement family has created over generations.
Bruer commented, "We are excited to expand on Klement's successful history. Klement's is a strong regional brand with the potential for growth in both its current markets and beyond."
Ray Booth, the current CEO of Klement's, will continue to lead the business along with the current management team based in Milwaukee. The Klement's plants and offices will remain in Milwaukee.
John Klement, former Chairman and CEO of Klement's said, "We are pleased to have the future of the Klement's brand in the hands of new ownership with Altamont Capital and Tall Tree Foods. I want to thank the many employees and other family members who have worked so hard to get the business to where it is today. We look forward to the future growth of the brand."
Greene Holcomb Fisher served as the exclusive financial advisor to Klement's.
Tall Tree Foods is a food holding company backed by Altamont Capital. In June 2013, Tall Tree Foods acquired the Blue Ribbon Bacon and Sausage business in Southeast Texas, and Richard's Cajun Foods, a leading manufacturer of authentic sausage and ready-to-eat meals sold in Louisiana, Texas and other southeastern states.
Source: Tall Tree Foods