2017 revenue: $685 million
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…