US-based cheesemaker Maytag Dairy Farms has been acquired by local private-equity firm Midwest Growth Partners for an undisclosed sum.
Confirming the deal on Facebook, Des Moines, Iowa-based Midwest said: “We have huge news! We’re pleased to announce a brand new partnership with Maytag Dairy Farms. It’s an honour and a pleasure to be part of one of the leading names in the craft cheese industry!”
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It has also included Maytag in the portfolio companies section of its website.
Maytag, also based in Iowa, is best known for its Maytag blue cheese. The company dates back to 1919 and has remained in family hands since then.
According to the Des Moines Register newspaper, all employees of Maytag Dairy have been retained through the sale. Maytag employs 40 full-time employees and 40 part-time and seasonal workers.
It added that the dairy will use Midwest Growth’s investment to pursue several initiatives, including expanding its production facilities, exploring new products and boosting sales.
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By GlobalDataIt quoted Fritz Maytag, former board chairman at Maytag Dairy Farms, as saying: “It was extremely important that we find stewards who are fellow Iowans, whose values align with our own, and who will continue to carry on our passion for our customers, our products and the people who create them.”
just-food has contacted Maytag and Midwest for further comment.
