Top 150+ 2018: No. 10 Schnuck Markets
2017 revenue: $2.7 billion
FLAT
Schnuck Markets reported flat revenue in 2017, as the company faced increased competition from both brick-and-mortar and online sources.
Schnucks did beat Sam’s Club and Dierbergs in offering grocery delivery service in St. Louis, launching “Schnucks Delivers” in February 2017 through a partnership with Silicon Valley-based Instacart.
Schnuck Markets in March 2017 reached a five-year contract extension with about 102 Teamsters Local 688 workers at its…
Top 150+ 2018: No. 8 Prairie Farms Dairy
2017 revenue: $3.1 billion
+17.4%
A merger with Iowa-based Swiss Valley Farms, which reported $325 million in annual revenue prior to the sale, helped revenue at Prairie Farms Dairy grow to $3.1 billion despite another year of depressed milk prices.
At its St. Louis butter plant, the dairy installed new production and packaging lines that became operational in November. Prairie Farms is projecting butter to be a growth category and that the company will be able to add private label co-packing…
Hawaii franchisee looks to grow IHOP, Applebee’s brands with more restaurants
Vince Espino, president of Union Mak Corp., told Pacific Business News that he’s looking to open new IHOP and Applebee’s restaurants on Oahu and on Maui.
Top 150+ 2018: No. 35 Gilster-Mary Lee Corp.
2017 revenue: $685 million
-2%
Downward pressure on prices for Gilster-Mary Lee products led to a drop in revenue in 2017.
“It was a very competitive situation for some of the items we produce,” said Donald Welge, chairman, CEO and president of the Chester, Illinois-based private label manufacturer of dry grocery products. “We had to lower prices in order to hold business.”
The company, owned by the Welge family, an employee profit sharing plan and local investors, hopes to gain back…
Top 150+ 2018: No. 33t Dierberg Markets
2017 revenue: $700 million
FLAT
Revenue remained flat at Dierberg Markets as competition for food dollars continues to be intense, Greg Dierberg, CEO and president of the company, said.
“Our business remains steady, which is good, and we’re continually evaluating and evolving the business to position us for long-term growth,” Dierberg said.
The company’s Whole Life products, which are made up of natural, organic foods for special dietary needs, continue to see growth in sales and in…
Top 150+ 2018: No. 30 The Maschhoffs
2017 revenue: $806 million
-33%
The sale of its Minnesota-based chicken business GNP Co. to chicken producer Pilgrim’s Pride Corp. accounted for the bulk of pork producer The Maschhoffs’ drop in revenue in 2017, according to Chairman Ken Maschhoff.
Maschhoff Family Foods’ sale of GNP closed in January 2017, finalizing a deal that totaled $350 million in cash and resulted in a reduction of St. Louis-based support employees.
With the sale of GNP, the Maschhoffs rolled the leadership of…
Dayton-area bank names new COO
A Dayton-area bank has named a new chief operating officer. Mutual Federal — part of First Bank Richmond — promoted Jackie Davis to the post.
Davis has been with the bank for 18 years, most recently serving as senior vice president.
In the new role, Davis is responsible for the bank’s branch network, mortgage loan origination, marketing and all bank operations.
Founded in 1887, First Bank Richmond has more than $700 million in assets. Locally, the bank has $112 million in Dayton-area assets.…
Local LED business acquires competitor
General LED Inc., a San Antonio-based energy-efficient lighting system manufacturer, bought New York-based Acolyte Group this week.
Founded in 2003, General LED sells light-emitting diodes and was acquired by Houston-based private equity company The CapStreet Group LLC for an undisclosed price. General LED has about 25 employees, while Acolyte Group has about 28 employees in its U.S. offices, according to LinkedIn profiles.
Each manufacturer has additional offices overseas. Both have offices in…
Equifax gives Congress more details on massive data breach
Equifax Inc. reported Monday it's given Congress more details of its massive 2017 data breach, saying it has not identified any additional consumers who were affected.
Equifax (NYSE: EFX) said it provided a statement for the record to multiple Congressional committees giving them additional information regarding the approximate number of consumers impacted for each of the data elements that was stolen by the hackers.
“The attackers stole consumer records from a number of database tables with different…
How these local entrepreneurs plan to take Charlotte’s startup scene to the next level
One of Innovate Charlotte's first initiatives after rebranding is to pilot an accelerator program based on team mentorship and created at the Massachusetts Institute of Technology.