Klement Sausage is a manufacturer of smoked, fresh and summer sausage, snack sticks and deli meats. The company was founded in 1956 by three brothers – George, John and Ron Klement – and is based in Milwaukee (www.klements.com). 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.
Tall Tree Foods is a food holding company backed by Altamont Capital. In June 2013, Tall Tree Foods acquired Blue Ribbon, a bacon and sausage brand, and Richard’s Cajun Foods, a manufacturer of sausage and ready-to-eat meals. Tall Tree Foods is led by Tim Bruer, CEO of Tall Tree and an Operating Partner of Altamont.
“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,” said Mr. Bruer.
Altamont Capital Partners invests in middle market businesses with specific interest in the government services, financial services, consumer/retail, industrials, and healthcare sectors. Altamont has approximately$1.3 billion of capital under management. The firm was formed in 2010 by Jesse Rogers, Randall Eason and Keoni Schwartz who previously worked together at Golden Gate Capital and Bain & Company. Altamont Capital Partners is based in San Francisco (www.altamontcapital.com).
“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,” said John Klement, former Chairman and CEO of Klement’s. “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.
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-5-14