$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
