HOFFMANN’S Osprey Capital Formally Acquires Oberweis Dairy, Sets Stage for Future Growth

June 19, 2024

WINNETKA, Ill. (June 19, 2024) – Hoffmann Family of Companies, through its investment arm, Osprey Capital LLC, announces that it has purchased Oberweis Dairy in its entirety. This significant milestone demonstrates the Oberweis brand emerging from Chapter 11 reorganization with renewed strength and an eye toward steady, strategic growth.

Oberweis leadership team driving expansion plans with support from Hoffmann Family of Companies

Adam Kraber, President of Oberweis Dairy, expressed enthusiasm about the new chapter: “The entire Oberweis team is thrilled to embark on this journey with the support of Hoffmann Family of Companies. From our manufacturing and distribution centers to our corporate offices and retail stores, the Oberweis team will continue the company legacy of super-premium quality and convenience. We remain committed to ‘serving up happiness’ to our valued customers.”

The Hoffmann family’s dairy heritage traces back to founder David Hoffmann’s childhood, where he helped his father, a milkman, make deliveries before school. When Oberweis, with nearly a century of history, faced bankruptcy, the Hoffmanns seized the opportunity to revive and enhance the brand, leveraging its storied reputation for quality.

Milk delivery experience runs through the management team as well. President Adam Kraber began his career at Oberweis as a milkman and was promoted into roles with increasing responsibility from 2000 to 2015. In 2022, Kraber returned to Oberweis as COO and was promoted to President in February 2024.

“My wife and four boys have always loved Oberweis! We have been consistent home delivery customers for more than 15 years, and often visit the Glenview, IL, location to share a laugh and a cone,” said Geoff Hoffmann, co-CEO of Hoffmann Family of Companies. “Those family moments are so important as our kids grow up. Now, as part of Hoffmann Family of Companies, we’re excited to contribute to the continued legacy of the Oberweis brand, creating family memories for generations to come!”

Drawing on extensive experience in acquiring founder-led companies, Hoffmann Family of Companies is well-positioned to provide capital for growth and improvement. Most of the companies acquired by Hoffmann Family of Companies continue to be led by their founders and existing management teams. Adam Kraber will continue as President of Oberweis Dairy, drawing on over 17 years of experience with the company. The company’s management team of tenured and talented leaders will also retain their positions.

Geoff Hoffmann added, “Adam and the management team have pivotal roles in continuing the Oberweis brand and building a new plan for profitability. Together, we’ll develop a new strategy to enhance operations, drive expansion, and maintain the premium quality that Oberweis represents.”

Following the acquisition, the company will implement a short-term, 100-day plan for rapid improvements while crafting a long-term growth strategy. In the coming weeks and months, the company plans to announce new locations in Chicagoland and other key markets. There are no plans to close existing locations or make substantial cuts to the business. The Oberweis Dairy brand name and beloved recipes will remain the same.

Regular updates will be shared with customers via social media and email. Additionally, Oberweis Dairy and Hoffmann Family of Company leaders plan to host an ‘Ice Cream Day’ at stores in key markets throughout the summer.

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