The owners of Haen Meat Packing, Inc. turned to CLA’s investment banking team to serve as their advisor when discussions with The Meat Block began to gain momentum.
Haen Meat Packing, Inc. (“Haen Meats” or “the Company”), a premier full-service meat processor and retailer, has been acquired by Greenville, Wisconsin-based The Meat Block (“TMB”). CLA’s investment banking team served as the exclusive financial advisor to Haen Meats on the transaction. The transaction was closed on February 26, 2021. Price and terms were not disclosed.
Haen Meats is a second-generation establishment founded in 1959. The Company features the finest meat cuts, a large selection of cured and smoked meats, and sausage products made from family-owned recipes. The Company has earned more than 370 state and national awards over the years, including 10 Best of Shows, which is the highest award given in Wisconsin’s Cured Meat Product Competition.
The Meat Block is a family-owned, full-service meat market. TMB offers a wide variety of selected meats and homemade items from its onsite smokehouse. Additionally, TMB offers BBQ Pits-N-Spits, patio furniture, catering services, and wine selections. TMB was founded by Phil Schmidt, a former long-term Haen Meats employee with years of experience in the industry. Phil is a co-owner of The Meat Block with his partner, Clyde Weycker.
Haen Meats was owned and operated by the four Haen brothers: Dan, Tom, Tim, and John. The Haen family was pleased with the result of the transaction.
“Strategically, this sale made sense given the unique strengths each business provides. Our customers will benefit greatly from the additional service offerings and experience of Phil and Clyde,” said Tim Haen, former co-owner. “Additionally, we all felt that The Meat Block provided the best home for our dedicated employees and truly appreciated and respected the legacy of our family’s business. We are extremely happy with this result for the business.”
Legal counsel for Haen Meats was provided by Andy Rossmeissl and Kyle Thelen of Herrling Clark Law Firm of Appleton, Wisconsin. Tax advisory was provided by Chad Janke of CLA’s Appleton office.
Dave Pieton, the managing director in CLA’s investment banking practice who led the transaction for Haen Meats, said the strategic acquisition was a natural fit.
“Both companies shared strong brands, a loyal customer base, and dedicated employees and were motivated to uphold the Haen family tradition of quality products, family recipes, and excellent customer service,” said Pieton. “This combination of culture, vision, and leadership will create a wonderful platform for continued growth.”
CLA investment banking professionals provide sophisticated corporate finance advisory and investment banking services to lower middle-market businesses and owners. The practice’s services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.
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