$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; Prepare for a successful sale

Situation

  • Family owned business operating at a loss, competitors taking share
  • Management blames losses on commodity swings
  • Lacks reporting & analytical tools to guide decisions
  • Lacks product innovation process and capabilities
  • Outdated go-to-market processes with static distribution
  • Older factories, which are not SQF certified

FortéONE Process

After initial diagnostic phase, FortéOne presented recommendations and detailed 180-Day Action Plan to return the company to profitability. We were hired to implement this Plan.

Establishing a Foundation for Performance

Leadership

  • Worked with existing leaders, then assumed CEO and COO roles—hired a new CFO Operations
  • Changed production processes, gained SQF certification on both plants
  • Developed financial and operational tools, established “culture of accountability” throughout company
  • Ensured managers in all positions were “on board” with the change needed

Organization

  • Replaced low performers, provided hands-on training and support for managers at all levels, and during all shifts

Product Innovation & Sales

  • Introduced multiple “trend positive” products, eliminated low margin SKUs
  • Introduced new account communication and product innovation processes to address client specific product innovation needs
  • Expanded sales beyond the current region and into new distribution channels; opened up new regions and distribution with Big Box accounts

Financial

  • Moved monthly financial close from 8 weeks to 5 days
  • Introduced new product pricing process, and “took pricing” on a case by case basis across the product lines

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