$85MM Protein Manufacturer

Working with the Family Board to return company to profitable status in order to sell at the highest value.

GOAL: Quickly return company to profitability; family would like to sell.

Situation

  • Family owned business operating at a loss, competitors taking share
  • Dysfunctional board, family does not communicate
  • Management blames losses on commodity swings
  • Lack reporting & analytical tools to guide decision making
  • Older factories, that are not SQF certified

FortéONE Process

After initial diagnostic phase, FortéOne presented a Business Assessment and 180 Day Action Plan to return the company to profitability.

  • Change production processes, gain certification on both plants
  • Develop financial and operational tools, establish “culture of accountability” throughout company
  • Eliminate low margin SKUs, introduce trend positive products
  • Ensure managers in all positions are “on board” with the change needed
  • Expand sales beyond the current region, and into new distribution channels

Establishing a Foundation for Performance

  • Replaced low performers, provided hands-on training and support for managers at all levels, and during all shifts
  • Moved monthly financial close from 8 weeks to 5 days
  • Gained SQF Level 1 certification for both plants
  • Opened up new regions and grew sales with major Big Box account

Results

  • Profits improved by $4MM within 18 months
  • Board stated: “We doubled our value with FortéOne’s assistance”
  • Company successfully sold – with 100% Board approval – within 20 months