With Two Additional Winnetka Properties Under Contract, HCRE Continues to Solidify Its Role as the Largest Landlord in the Region

Winnetka, IL (Dec. 23, 2024) — ​​Hoffmann Commercial Real Estate (HCRE), part of the Hoffmann Family of Companies, is proud to announce the acquisition of 10 new properties and one new property under contract. Nine of the newly acquired properties are current Oberweis Ice Cream & Dairy Store locations being purchased from the Oberweis family, with the tenth — 510 Winnetka Avenue — set to become a new store location.

These strategic acquisitions reinforce HCRE’s ongoing commitment to Oberweis, securing these properties as long-term assets and supporting the brand’s expansion across the country with new store locations.

“We are thrilled to announce our latest acquisitions and the new Oberweis ice cream store location in Winnetka,” said Greg Hoffmann, Principal & CEO of HCRE. “This milestone further enhances the national expansion of Oberweis Ice Cream and supports the growth of this iconic brand. It also represents a positive step forward for the communities involved.”

The newly acquired locations are:

  • 510 Winnetka Ave, Winnetka, IL 60093 (new Oberweis Ice Cream & Dairy Store location coming soon!)
  • 925 S Route 59, Bartlett, IL 60103
  • 338 W. Army Trail Road, Bloomingdale, IL 60108
  • 2105 N. Veterans Parkway, Bloomington, IL 61704
  • 4568 & 4590 Telegraph Road, Oakville, MO 63129
  • 1816 Highway K, O’Fallon, MO 63366
  • 7202 W. 159th Street, Orland Park, IL 60462
  • 1735 Algonquin Road, Rolling Meadows, IL 60008
  • 30 S. Roselle Road, Schaumburg, IL 60193
  • 1790 West Main Street, St. Charles, IL 60174

In addition, HCRE is under contract to acquire 530 Winnetka Avenue, further expanding its presence in the area. These acquisitions strengthen Hoffmann’s position as the largest landlord in Winnetka and underscore its continued investment in the community.

Greg Hoffmann added, “With our contract to acquire 530 Winnetka Avenue, we are excited to further enhance the area and continue supporting the businesses and residents that make Winnetka such a remarkable area.”

HCRE’s diverse portfolio features retail, commercial and office spaces, multi-family housing, industrial properties and land under development. Dedicated to upgrading each property to a Class “A+” standard, HCRE’s portfolio is valued at over $1 billion.

HCRE is experiencing rapid growth, building a portfolio that includes both stabilized and value-added assets in prime locations across the country. Currently, HCRE’s portfolio includes properties in California, Canada, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Pennsylvania, Tennessee, Texas and Wisconsin.

About Hoffmann Commercial Real Estate
Hoffmann Commercial Real Estate (HCRE), a subsidiary of the Hoffmann Family of Companies, is a premier real estate investment and development firm specializing in the acquisition, management and redevelopment of commercial properties. With a diverse portfolio that spans stabilized and value-added assets, HCRE is committed to enhancing the communities in which it operates through thoughtful development and superior property management. HCRE’s strategic investments are focused both within the United States and internationally, reinforcing its position as a leader in the commercial real estate industry. For more information, visit Hoffmanncre.com.

About Hoffmann Family of Companies
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 120 global brands, and employs 16,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of Companies’ verticals include Aviation, Agriculture, Financial Services, Hospitality, Business & Professional Services, Industrial, Manufacturing, Marine, Media & Marketing, Real Estate, and Transportation.

Dallas, TX (Dec. 20, 2024) — The Hoffmann Family of Companies (HF Companies) announces today that it is the fourth largest shareholder of DallasNews Corporation, now owning 286,516 shares. In compliance with regulatory requirements, the company has filed an amended Schedule 13D with the Securities and Exchange Commission. Stifel Financial Corp., based in St. Louis, MO, is serving as the strategic advisor for this investment.

DallasNews Corporation, established by Alfred H. Belo in 1885, is the parent company of The Dallas Morning News, the 14th-largest newspaper in the United States. Through its print and digital platforms, the publication reaches an active monthly audience of over 12 million people.

HF Companies remains steadfast in its commitment to local media. Recently, the company reported that it is the second largest shareholder in Lee Enterprises Inc. (Lee) and is holding a 9.94% ownership stake. HF Companies has publicly stated its intention to continue acquiring shares in both Lee and DallasNews Corporation as favorable market conditions arise.

“We are excited to deepen our investment in DallasNews Corporation and support their management team as they continue to drive new opportunities for growth and innovation,” stated David Hoffmann, Chairman of HF Companies. “Through our investment in media, we continue to publicly share our belief in the vital role trusted news sources play in our communities.”

In addition to its investments in Lee and DallasNews Corporation, HF Companies owns Hoffmann Media Group, a privately held media firm with a portfolio of 20 news-related properties across the United States.

About Hoffmann Family of Companies 
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 120 global brands, and employs 16,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of Companies’ verticals include Aviation, Agriculture, Financial Services, Hospitality, Business & Professional Services, Industrial, Manufacturing, Marine, Media & Marketing, Real Estate, and Transportation.

About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands, including 20 newspapers, magazines and media investments, serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. For more information, visit www.hoffmannmediagroup.com.

Fort Myers, FL (Dec. 13, 2024) — The Hoffmann Family of Companies (HF Companies) announced today that it has continued to purchase shares of Lee Enterprises Inc. (Lee) and now owns 9.74%. HF Companies has filed an amended Schedule 13D with the Securities and Exchange Commission, as required. Stifel Financial Corp. in St. Louis, MO, is serving as strategic advisor to the company.

HF Companies has expressed its intention to become Lee’s largest shareholder. Currently, Hoffmann is the second-largest shareholder, behind Quint Digital Limited.

Lee owns the St. Louis Post-Dispatch, Omaha World-Herald, and The Buffalo News, as well as other daily newspapers and 350 weekly and specialty publications that serve 72 local markets across America. By combining Lee and Hoffmann Media Group assets, HF Companies would own the second-largest newspaper group in the country.

“We have and will continue to purchase shares in the company as market conditions present themselves,” said David Hoffmann, Chairman of HF Companies, from his St. Louis residence. “We believe in newspapers, local journalism, and digital media. We have been and continue to be successful throughout the country with our media assets. I’m not going away, and we will continue to invest. We feel local journalism is a part of the fabric of America and will invest to protect it and help it prosper.”

“The management team at Lee is doing a great job and our interest in investing in Lee is to help them grow and continue to serve local markets,” said Pason Gaddis, CEO of Hoffmann Media Group.

Hoffmann Family of Companies’ ongoing investment in Lee underscores its commitment to preserving and enhancing local journalism. The company aims to leverage its media investment to support and grow local news outlets across the United States.

About Hoffmann Family of Companies 
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 110 global brands, and employs 11,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of Companies’ verticals include Aviation, Agriculture, Financial Services, Hospitality, Business & Professional Services, Industrial, Manufacturing, Marine, Media & Marketing, Real Estate, and Transportation.

About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. (20 Newspapers, Magazines, and Media Investments). For more information, visit www.hoffmannmediagroup.com.

Media Contact
Suzanne Jacob
Chief Marketing Officer
[email protected]

Western Canadian Energy Services Leader Acquires the Dallas and Odessa-Based Business to Expand Services Into the United States

Calgary, CA (DEC. 9, 2024) – CDN Controls ULC, part of the Hoffmann Family of Companies (HF Companies), Western Canada’s leading provider in electrical and instrumentation, automation, renewable/solar services, and major construction services, announced today that it has acquired Dallas and Odessa-based Superior Optimization.

As part of the acquisition, a transition process will be undertaken to align business processes, which will include the relocation of the head office to Houston, TX, while maintaining all services in the current branch locations in Fort Worth, Odessa, and New Mexico. Additionally, the business will undergo a brand transition to the name CAVIS (kay-vis) Energy.

The acquisition is the result of an intentional, strategic pivot for CDN that began in March 2024, when CDN was acquired by the Hoffmann Family of Companies, a US-based, family-owned, private equity group. A central driver of the Hoffmann-CDN acquisition was to provide capacity and capital for CDN to seize new opportunities in new markets. Today’s acquisition is the realization of this vision—and the first of several planned expansions.

“There is an opportunity for CDN to be a global player and industry dominator,” said Dean Fraser, CEO and Co-Founder, CDN. “The market-driven focus and strong foundational core values of Superior Optimization are similar to CDN, and we are excited to work alongside their leadership and talented industry professionals to provide energy services in this dynamic US market.”

“CDN understands that there are significant opportunities in the energy services space, and the market is ready for a provider that understands the improvements and innovations ahead for the global energy infrastructure,” said Geoff Hoffmann, Co-CEO, Hoffmann Family of Companies. “As the demand grows for large-scale players to undertake this work, we are pleased to see CDN’s entrance into the United States to seize these opportunities. We welcome Superior Optimization to the family and look forward to its transition to CAVIS Energy.”

About CDN Controls
CDN is Western Canada’s leader in electrical and instrumentation maintenance, automation, communication, and renewable/solar services. United by a vision to become a globally recognized business celebrated for our tenacious full-service approach in relentless pursuit of industry dominance, CDN’s collective team of more than 750 employees and contractors are committed to the highest standards in performance, measurement, and safety — and, above all, pride in a job well done. With 11 branches, six formal Indigenous partnerships, and a history of building impactful relationships, CDN delivers systems that perform. For more information, visit: www.cdncontrols.ca.

About Superior Optimization
As an Energy & Industrial Service provider, Superior Optimization leverages strong internal synergies to deliver turn-key solutions across a wide array of industries throughout Texas, New Mexico, and the Southwest US. Their capabilities include embedded technicians, design, Electrical and Instrumentation construction and project management, panel manufacturing, installation/commissioning, system integration, maintenance, repair, and capital project support. As the world becomes increasingly automated, Superior Optimization helps customers connect with their field assets to obtain better visibility and analytics. For more information, visit: supopt.com.

Strengthening Their Presence in the Clayton Office Market

Clayton, MO (Nov. 22, 2024) — ​​Hoffmann Commercial Real Estate (HCRE), part of the Hoffmann Family of Companies, is pleased to announce the completion of its acquisition of the Pierre Laclede Center in downtown Clayton, Missouri. The property is a top-tier business hub, attracting corporations, startups, and professional service firms seeking premium office rentals. HCRE plans to invest further in the property to enhance its amenities and aesthetics, aiming to attract more businesses.

“We are thrilled to welcome the Pierre Laclede Center into our expanding portfolio,” said Greg Hoffmann, Principal & CEO of HCRE. “This acquisition represents a significant milestone for us, as it not only strengthens our presence in the Clayton office market but also underscores our commitment to investing in properties that are integral to the local community. We look forward to enhancing the property further and continuing to support the businesses and residents who make this area vibrant.”

The site includes two office towers offering nearly 600,000 square feet of space. This acquisition significantly increases HCRE’s total investment in the area, now nearing 1,000,000 square feet.

HCRE’s diverse portfolio features retail, commercial, and office spaces, multi-family housing, industrial properties, and land under development. Dedicated to upgrading each property to a Class “A+” standard, HCRE’s portfolio is valued at over $1 billion.

HCRE is experiencing rapid growth, building a portfolio that includes both stabilized and value-added assets in prime locations across the country. Recently, the company announced three acquisitions in Chicago’s vibrant North Shore, where it is one of the largest landlords.

Currently, HCRE’s portfolio includes properties in California, Canada, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Pennsylvania, Tennessee, Texas and Wisconsin. 

About Hoffmann Commercial Real Estate
Hoffmann Commercial Real Estate (HCRE), a subsidiary of HF Companies, is a premier real estate investment and development firm specializing in the acquisition, management and redevelopment of commercial properties. With a diverse portfolio that spans stabilized and value-added assets, HCRE is committed to enhancing the communities in which it operates through thoughtful development and superior property management. HCRE’s strategic investments are focused both within the United States and internationally, reinforcing its position as a leader in the commercial real estate industry. For more information, visit www.hoffmanncre.com.

Dallas, TX (Nov. 14, 2024) — The Hoffmann Family of Companies (HF Companies) has acquired a significant stake in DallasNews Corporation, the parent company of The Dallas Morning News, and has filed a Schedule 13D with the Securities and Exchange Commission, as required. HF Companies is now one of the top shareholders in DallasNews Corporation. Founded in 1885 by Alfred H. Belo, The Dallas Morning News is the 14th-largest newspaper in the United States. It reaches an active monthly audience of over 12 million people across its print and digital platforms.

This investment follows HF Companies’ recent acquisition of shares in Lee Enterprises, the nation’s fourth-largest newspaper chain. The Hoffmann Family of Companies now holds the position of the second-largest shareholder in Lee Enterprises and plans to continue increasing its stake. HF Companies has acquired an additional 1% in Lee Enterprises, now owning 538,763 shares, resulting in a 13D amendment filing. 

In addition to its stakes in Lee Enterprises and DallasNews Corp., HF Companies owns Hoffmann Media Group, a privately held media firm with a portfolio of approximately 19 news-related properties across the United States. The company is led by CEO Pason Gaddis, who co-founded a newspaper group acquired by HF Companies in 2022 and previously held roles at Gannett, the nation’s largest newspaper chain. Under his leadership, Hoffmann Media Group has become a significant player in the private media sector. If Hoffmann Media Group, Lee Enterprises and DallasNews Corporation combined, they would become the second-largest newspaper group in America.

David Hoffmann, a Forbes-listed billionaire and Chairman of HF Companies, recently reaffirmed the organization’s long-term strategy in The New York Times, highlighting his belief that local newspapers remain an integral part of the American fabric and are currently undervalued. “I am focused on building a national presence in the newspaper industry. Our group is impressed with the strategic vision of the management teams at both DallasNews Corp. and Lee Enterprises. In our team’s assessment, both companies are successfully transitioning to sustainable digital business models while reducing exposure to their legacy print operations. This presents an attractive investment opportunity with these assets significantly exceeding current stock prices, among other favorable metrics.”

About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. (20 Newspapers, Magazines, and Media Investments) For more information, visit www.hoffmannmediagroup.com.

Fort Myers, FL (Nov. 7, 2024) — The Hoffmann Family of Companies (HF Companies) has once again increased its share ownership in Lee Enterprises. As a result, it has amended its 13D filing to reflect this increase. Under Securities and Exchange Commission regulations, companies are required to disclose any increase in their share ownership of one percent or more. On October 31, 2024, HF Companies acquired an additional one percent stake, bringing its total ownership to 476,863 shares. Since then, the company has increased its ownership to 8.41% or 520,863 shares, making it the second-largest shareholder. HF Companies intends to continue growing its investment as market conditions present themselves.

“We continue to have strong confidence in Lee Enterprises’ management team. We believe they’re on the right digital migration path and reducing their exposure to legacy costs to build a sustainable business model,” stated Pason Gaddis, CEO of Hoffmann Media Group.

Lee Enterprises, the fourth-largest newspaper company in the U.S., operates in 26 states with 77 newspapers and over 350 weekly and specialty publications serving 73 markets nationwide. A merger between Hoffmann Media Group and Lee Enterprises would position the combined company as the third-largest newspaper entity in the country.

“HF Companies will continue to invest in Lee Enterprises. We are optimistic about the future of the newspaper industry and believe in the importance of strong, local papers that are an integral part of the fabric of the communities they serve,” said David Hoffmann, Chairman of Hoffmann Family of Companies.

About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. (20 Newspapers, Magazines, and Media Investments)

For more information, visit www.hoffmannmediagroup.com.

Naples, FL (Nov. 1, 2024) — The Hoffmann Family of Companies (HF Companies) proudly announces the acquisition of Dolphin Transportation Specialists, a leading transportation provider with a fleet of over 165 vehicles, including sedans, SUVs, vans, Mercedes Sprinters, minibusses, and motor coaches.

Dolphin Transportation, founded by Francis Papps and Tim Rose, operates out of Naples, Florida, with additional locations in Miami, Tampa/Sarasota, Fort Myers and Marco Island. Tim Rose, a respected industry veteran, will continue to lead Dolphin as President and will also assume the role of President of Hoffmann Transportation Enterprises. In his expanded role, Tim will collaborate with Tamir Rankow and Randy Smith, Directors of the Hoffmann Family of Companies, to drive future acquisitions and enhance customer service offerings across the transportation portfolio.

(From Left) Tamir Rankow, Tim Rose, David Hoffmann, Randy Smith

“Dolphin Transportation began in 1994 on Nantucket Island, Massachusetts, and has grown into one of the largest operators in the country,” said Tim Rose. “Joining forces with the Hoffmann Family of Companies represents an exciting chapter for our team. We look forward to leveraging their expertise and resources to elevate the luxury transportation experience for our valued clients.”  

Tim Rose currently serves on the National Limousine Association, Florida Limousine Association and the Chauffeured Transportation Association of New Jersey Boards, and previously served as President of the Chauffeured Transportation Association of New Jersey for many years.

Dolphin Transportation specializes in premium transportation and coordination services for large events, groups and corporate clients nationwide. The company has expanded its reach through strategic acquisitions, including SRQ Transportation in Sarasota in 2020 and Key Transportation in Miami in 2021.

“We are thrilled to welcome Dolphin Transportation Specialists into the Hoffmann family,” said Randy Smith, Director of the Hoffmann Family of Companies. “Their reputation for excellence aligns perfectly with our commitment to delivering exceptional service across all our business ventures.”

With this acquisition, the Hoffmann Family of Companies solidifies its position as the largest private owner-operator of a Black Car vehicle fleet in the United States, offering comprehensive services across major cities, including Dallas, Miami, Tampa, Naples, Fort Myers, Sarasota, Marco Island, Napa and Sonoma Valley, San Francisco, St. Louis, Augusta, Missouri, and Aspen, Colorado.

Media Contact
Jessica Carruth
Director, Communications & PR
[email protected]
239.396.7474

Fort Myers, FL (Oct 29, 2024) — ​Hoffmann Family of Companies (HF Companies) announced today that it has increased its share ownership in Lee Enterprises Inc. In conjunction with the Securities and Exchange Commission rules and regulations, the company has filed a 13D amendment.

HF Companies believes the current investment places their ownership position behind Quint Digital, the largest shareholder. The company has plans to further invest in Lee Enterprises as market conditions present themselves. JPMorgan Chase is advising HF Companies on its strategy.

According to Bloomberg, the Jerrilyn M. Hoffmann Revocable Trust reported a 6.7% holding in Lee Enterprises Inc., equivalent to $6.85 million. A previous 13D filed on October 17, 2024, showed a 5.22% stake. Shares of Lee Enterprises have gained 21% since October 17, 2024, compared with the 0.6% drop in the Standard & Poor’s 500 Index.

Lee Enterprises Inc., the fourth-largest newspaper company in the U.S., operates in 26 states and owns 77 newspapers nationwide, including the St. Louis Post-Dispatch, which attracted the interest of founder David Hoffmann.

About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. For more information, visit www.hoffmannmediagroup.com.

About Hoffmann Family of Companies 
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 110 global brands, and employs 11,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of 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.

Media Contact
Jessica Carruth
Director, Communications & PR
[email protected]
239.396.7474

David Hoffmann has already bought 5 percent of one of America’s largest newspaper companies. Now, he wants to control the whole thing.

The newspaper industry has decayed so much in recent years that even Warren Buffett — the world-famous investor whose annual meetings have included a newspaper toss — has declared the business “toast.” But another billionaire is placing a counterintuitive bet that local newspapers aren’t dead yet. David Hoffmann, a Florida investor worth $1.6 billion, who has purchased more than 5 percent of Lee Enterprises, one of America’s largest newspaper companies, wants to buy up a controlling stake.

By Benjamin Mullin | Read the article here: New York Times

Mr. Hoffmann, 72, acknowledged in an interview Friday that investing in local newspapers in 2024 is a somewhat quixotic proposition. But he said that he believes print newspapers are “a key part of the American fabric.” He also thinks Lee Enterprises is undervalued by the stock market and a smart financial bet.

“These local newspapers are really important to these communities,” Mr. Hoffmann said. “With the digital age and technology, it’s changing rapidly. But I think there’s room for both, and we’d like to be a part of that.”

Mr. Hoffmann is a relative newcomer to the struggling newspaper industry. The founder of DHR Global, an executive search firm, Mr. Hoffmann parlayed his early success into a sprawling hodgepodge of companies including Mitch’s Cookies, Oberweis Dairy, the Florida Everblades minor-league hockey team and Linstol, a manufacturer of in-flight airline amenities like blankets and headsets. His family of companies, based in Naples, Fla., also includes a media group that has accumulated a handful of small newspapers, including the Mackinac Island Town Crier on Mackinac Island in Michigan and Northern California’s Napa Valley Register, a former Lee newspaper.

According to a securities filing last week, a trust connected to Mr. Hoffmann’s family paid roughly $4 million for a 5.2 percent stake in Lee Enterprises, the fourth-largest newspaper chain in the country. The company, based in Davenport, Iowa, owns roughly 75 newspapers in 26 states, including The St. Louis Post-Dispatch and The Buffalo News — which it bought from Mr. Buffett’s BH Media Group in 2020.

But Mr. Hoffmann wants to go bigger. He said his motivation was simple: He wants to preserve community news — including more local sports coverage.

A native of Washington, Mo., (population: 14,500), Mr. Hoffmann said he was raised in a home that did not have hot running water until he was a sophomore in high school. The son of a nurse and a milk delivery man, Mr. Hoffmann, who was the quarterback for his high school football team, lamented that coverage of local games was disappearing.

As newspapers die off, he said, “you don’t get to read about kids’ sports.”

Lee Enterprises, which has nearly $500 million in debt, lost roughly $3.7 million last quarter. The company has cut costs in recent years, including furloughing and laying off journalists, to offset declines in advertising and subscription revenue.

Alden Global Capital, an investment firm that has bought newspapers across the United States, submitted an unsolicited proposal in 2021 to buy the company for roughly $141 million. Lee Enterprises rejected that proposal and put in place a “poison pill” plan that prevented Alden from buying control of the company.

Though Mr. Hoffmann has plans to buy additional shares of Lee Enterprises, he said he was not a hostile activist and planned to talk to the company’s management team this week.

“We want it to be friendly,” Mr. Hoffmann said. “They have called us, as you would expect, and said, ‘What are you guys doing?’ And we’re going to sit down with them and tell them our story.”

A spokeswoman for Lee Enterprises did not respond to an email seeking comment. The company’s stock has risen about 64 percent, to $14.34, since the Hoffmann family trust went on a share-buying spree in late September. It is now valued at nearly $90 million.

Hoffmann Media Group, a subsidiary of the Hoffmann Family of Companies, bought the Napa Valley Register and other papers last month from Lee for an undisclosed sum. It now owns about 12 newspapers, said J. Pason Gaddis, the media group’s chief executive.

Mr. Gaddis said that the Hoffmann Media Group’s plan to transform Lee’s newspapers involves reinvesting in journalism to build a more substantial digital subscription business. The company would do that, in part, by consolidating the company’s printing business to regional hubs and reducing its real estate footprint.

“You put journalists back into City Council meetings, you put journalists back out at sports games for the local communities,” Mr. Gaddis said. “You have local management again in these newspapers, which has all been stripped out.”