DCI Cheese Company
On April 19, 2005, Fairmount Food Group, LLC (“Fairmont”), of Dallas
announced its first acquisition, the purchase of DCI Cheese Company of
Mayville, Wisconsin. This landmark transaction represented the first
such acquisition for Fairmount. Fairmount was launched in May 2003
with $200 million in equity financing from Chicago-based GTCR Golder
Rauner, LLC to pursue acquisitions in the food and beverage industry.
Watch Hill Partners advised DCI on the transaction, the terms of which
were not disclosed.
DCI has emerged over the past 25 years as a leading supplier of
domestic and imported specialty cheeses. DCI's unique business model
evolved to comprise a portfolio of leading company-owned or exclusively
managed brands, dedicated supplier partnerships and a full service consolidation
warehouse program. DCI's brands include Black Diamond,
Great Midwest, Salemville, Black River, Auricchio Americano, Timber
Lake and Organic Creamery.
DCI engaged Watch Hill as its exclusive financial advisor after having
been initially approached by Fairmount. DCI management relied upon
our demonstrated ability to manage a non-auction sale process and
maximize shareholder value. Tim Omer, DCI's President and CEO, and
his partners retained an equity stake in the new venture and continued
in their respective management roles. "We are thrilled to be a part of the
Fairmount Food Group and see this as an opportunity for us to build a
better DCI Cheese Company" says Omer.
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