In an almost unexpected turn of events the Tillamook Country Smoker secures new ownership with an investment firm.
It was decided recently amongst the former owners of the famous purveyors of homemade jerky products that it was best for the company’s future to begin the process of searching for an interested buyer.
“We had a number of attempts to purchase, lots of offers,” said founder Dick Crossley. “We got together and hired some bankers to help us look for buyers and we ended up liking what Insignia Capital Group could offer the company moving forward.”
Insignia Capital Group is a San Francisco-based private equity firm focused on lower middle-market companies, according to company information they partner with company founders and management teams to help drive growth and achieve true business potential. They have a significant amount of experience building businesses across a range of industry.
Crossley is the only one of the original group of founders who decided to stay onboard during the transition and according to him the Tillamook Country Smoker has a lot of good things on its horizon.
When news first circulated that the company may be looking to sell fears began to surface such as concerns of mass layoffs and large-scale workforce restructuring would otherwise be inevitable. According to Crossley however, nothing could be further from the truth.
t“We are thrilled to partner with Insignia in this exciting next phase of the company’s growth,” said Crossley. “Its been a wonderful transition so far, Insignia is going to help the Tillamook Country Smoker move to the next level of production and distribution.”
In fact, from what Crossley said, the company will be looking for even more employees as things progress forward, and subsequently Insignia is planning a $7 million expansion to the current operation at the Smoker.
“We hope to be able to double or even triple our production capacity here at the Smoker,” Crossley said.
“Insignia has hired five professional positions to come in and assist with the longer-term transition, people with lots of experience in supply chain management, a President, CFO, there’s lots of growth going on in a very short time frame.”
Originally created during the 1970s, the Tillamook Country Smoker was the formation of Crossley’s original jerky making process he pioneered during his youth and the organizational and financial backing from two other area dairy farming families, the Smith and Geingers.
Together they ushered the Smoker into the successful area factory it is today.
“This transition should make every one of us founders proud,” Crossley said. “It’s the best option all around for the Smoker and its longevity moving forward.”