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Sawaya Segalas News
November 18, 2015
Hickory Farms Acquired by Modjule, LLC and private co-investors.
America's Most Famous Holiday Food Gift Brand Has a New Owner.
 

TOLEDO, OH — Today, Hickory Farms, a multi-channel retailer of branded specialty food and gifts, announced it has been acquired by Modjule, LLC, a Chicago-based private investment company, and its co-investors. Hickory Farms will continue to have its headquarters in Toledo, its distribution center in Joliet, IL, and a satellite office in Richmond Hill, Ontario.
 
"We are pleased to welcome Modjule as our new partners as we prepare for another successful holiday season at Hickory Farms," said CEO Mark S. Rodriguez. "Last year, our business grew four times faster than the food gift industry and we look forward to continuing that momentum."
 
"Hickory Farms gift boxes, baskets and assorted products have been enjoyed as part of family traditions since 1951," said David Veenstra of Modjule. "Millions of families across North America know Hickory Farms and we hope to help the Company accelerate its growth as advisors and capital partners."
 
Sawaya Segalas & Co., LLC served as exclusive financial advisor to Hickory Farms in connection with this transaction.
 
About Hickory Farms
For more than 60 years, Hickory Farms has been enriching family holiday celebrations by providing the highest quality, best tasting specialty food gifts. Its award-winning signature products and eco-friendly gift boxes can be found in catalogs, online at www.hickoryfarms.com, at leading mass merchants and supermarkets year round. During November and December, Hickory Farms products can be found in more than 650 Holiday Markets in shopping malls throughout North America.
 
About Modjule LLC
Modjule LLC is a private investment company formed to invest in and operate small footprint, multi-unit retail and consumer businesses. Modjule's philosophy is based on years of successful operating and investing experience with companies including Redbox, Coinstar, McDonald's, Baird Capital, American Capital, Wind Point Partners and Bain & Company.
 

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