Oberweis $21 million sale to Winnetka private equity firm gets bankruptcy court approval

Amber glass bottles of milk roll through the bottling assembly line at the Oberweis Dairy facility in North Aurora, on March 1, 2017. A Chicago bankruptcy judge approved the sale Wednesday of the century-old Oberweis Dairy to a Winnetka-based private equity firm, which plans to expand production and retail locations while preserving the venerable brand name.

The Hoffman Family of Companies bested rival bidder Chicago-based Dutch Farms with a $21.25 million offer for the assets of Oberweis at aStarted in 1915 by Peter Oberweis, an Aurora dairy farmer who peddled milk from a single horse-drawn wagon, the company has grown into a multistate enterprise with 40 ice cream stores, widespread grocery distribution and home delivery service.

In addition, Hoffmann plans to open new dairy stores, spruce up existing locations and increase the product line, all under the Oberweis brand name. There are no plans to close any locations or make substantial cuts to the business, Hoffmann said. Hoffmann said Oberweis plans to stay in the home delivery business and grow it along with the retail footprint.

Meanwhile, plant-based dairy sales, which are up nearly 50% since 2019, were essentially flat last year at $4.1 billion, according to Circana.“Everything’s on the table,” Hoffmann said. “We want to give our customers what they want, at the end of the day.” The Oberweis name became associated with politics in the new millennium when Jim Oberweis, chairman of the dairy and grandson of its founder, launched a string of high-profile but mostly failed bids as a Republican candidate for various offices. The dairy magnate finally won a seat as an Illinois state senator, serving from 2013 to 2021.

Source: News Formal (newsformal.com)

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