Athman Dairy, Inc. Joins Advanced Dairy West, LLC
Minneapolis, MN – November 11, 2022 – True North Mergers and Acquisitions (TNMA) Managing Director, Erica Gilson, announced today that Advanced Dairy West, LLC (Advanced Dairy) of Spring Valley, Wisconsin, has purchased Athman Dairy, Inc. (Athman Dairy) of Pierz, Minnesota. The 50+ employee business will retain all 13 employees of the family dairy operation led by second generation cousins, Loren and David Athman. After more than four decades in business, the Athman cousins determined it was time to start thinking about retirement and transitioning their business. The owners enlisted the help of TNMA after being referred by a past client who had been impressed by the firm’s tenacity and dedicated support. The TNMA team brought both characteristics to the transaction.
The transaction closed on November 10th following a two year process which began at the crux of the March 2020 global pandemic. Senior M&A Advisor, Brent Engelbrekt and the TNMA team, worked with the Athman cousins to strategically prepare for the best time to sell their business.
“We had developed a strong relationship with Brent and the True North team who encouraged us to hold tight on the sale of the business until we could, once again, sell from a position of strength. The supply chain problem eventually worked its way out and allowed us to get to the finish line without having to take a big haircut,” said Loren Athman, Athman Dairy.
Advanced Dairy proved to be a great company match for Athman Dairy’s legacy with their shared core values, product and service offerings, and key industry partnerships. Both companies sell and service dairy equipment products and both are authorized DeLaval dealers, a Swedish manufacturer of dairy equipment.
“For the Athman employees, customers, and local Pierz community, it was important for Loren and Dave to leave their business in good hands,” said Brent Engelbrekt, Senior M&A Advisor on the transaction. “Advanced Dairy ended up being a natural choice sharing similar values and employee culture. Plus, both companies are DeLaval authorized dealers, which makes integration a lot easier for everyone.”
“We had some challenges along the way,” noted Loren Athman, Athman Dairy. “We ran straight into COVID and the resulting supply chain issues. Luckily, our M&A advisory team helped us navigate every step along the way.”
ABOUT TRUE NORTH MERGERS & ACQUISITIONS – True North Mergers & Acquisitions is an M&A advisory practice focused on providing mergers and acquisition advisory services for companies with annual revenues between $5 million to $150 million-plus. They specialize in business owner exits, business valuations, and acquisition services in the lower middle market. More information is available at www.tnma.com.