The family-owned investment firm looks to support the Illinois-based dairy and fast food company in keeping its family heritage alive
HFOC understands there may be a stalking horse bidder for Oberweis, and that there is a process to evaluate all bids. The Hoffmann family intends to make a competitive offer to buy the company and is confident they will deliver the highest bid, based on current due diligence.
The Hoffmann family has a history of investing in multi-generational, family-owned businesses and was specifically drawn to invest in Oberweis because of its highly regarded history, brand and alignment with family values. The firm prioritizes investing in world-class companies, and Oberweis’ premier products and commitment to service have made the brand a household name for nearly a century.
Oberweis Dairy, founded in 1927 and privately owned by the Oberweis family, is headquartered in Illinois. The company’s businesses include a dairy home delivery service across parts of the Midwest and Texas, a chain of corporate- and franchise-owned dairy and ice cream stores in the Chicago area, a distribution service to regional supermarkets, and high-end fast food hamburger restaurants named “That Burger Joint.”
“Our vision is all about quality, legacy and longevity – we’re not looking to buy and flip businesses,” said Geoff Hoffmann, co-CEO of Hoffmann Family of Companies. “The Oberweis name has been associated with delicious, premium quality products for decades. Notwithstanding its recent financial struggles, we see an opportunity to revive the company’s heritage of success. This may take many different shapes or forms and we are highly enthusiastic about the prospect of our involvement.”
The Hoffmann family’s dairy roots trace back to founder David Hoffmann’s early childhood growing up on a dairy farm in Washington, Missouri, where he would deliver milk before school. The family’s entrepreneurial growth story began 1989, when David Hoffmann founded DHR International (now DHR Global), a Chicago-based global executive search and leadership advisory firm.
In recent years, the family has acquired more than 200 founder-led companies to provide them with the capital to fund growth and improvements. Most of the companies acquired by HFOC are still led by their founders, including second- and third-generation family leaders.
About Hoffmann Family of Companies
The Hoffmann Family of Companies (HF Companies) is a multi-vertical, family-owned private equity firm consisting of over 100 national brands, and employs 9,000 global employees with businesses located in 30 countries and 250 locations around the world. The HF Companies’ verticals include Aviation, Agriculture, Financial Services, Hospitality, Business & Professional Services, Industrial, Manufacturing, Marine, Media & Marketing, Real Estate and Transportation. For more information, visit: www.hfcompanies.com.
About Oberweis Dairy
Having been started on a dairy farm nearly a century ago, Oberweis Dairy provides the best-tasting milk, ice cream, and now chocolates available anywhere. The company is famous for milk in its trademark glass bottles as well as its best-in-class smooth and creamy ice cream. The company distributes its products through its 48 ice cream and dairy stores, to thousands of homes through its home delivery service, and through grocery stores. Oberweis is family owned and operated, currently by the 3rd and 4th generations. For more information about Oberweis Dairy, visit www.oberweis.com.
Media Contact
Suzanne Jacob, CMO
[email protected]