Most business owners in Michigan start out with small operations. Some choose to stay that way, while others work hard and grow their products to become nationally known brands. Massive growth is something the creators and original owners of the Flatout bread company have succeeded in doing. However, in order to help their business grow, the owners made a sale of business.
Flatout Holdings Inc., was recently sold to a company based in another state to the tune of $92 million. This is not the first time this company has been through this process. In 2010, the original owners made a partial sale of business, only keeping a 35 percent stake in their company. They have, however, kept an active role in operations at their Michigan manufacturing location.
The goal of this most recent sale is to expand Flatout’s footprint. Business operations are, overall, expected to remain the same. This acquisition is expected to help this solid business continue to grow.
Business owners in Michigan who desire to expand to a national market will face tough decisions in order to make their goals into realities. As with Flatout Holdings Inc., original owners can choose to utilize the sale of business to larger companies in order to help their companies grow. This may or may not be the path for everyone, but those who choose to sell a stake in their companies can still keep active roles in the businesses. Contracts can be created and included in the sales that allow for this type of arrangement. Legal assistance is available to ensure any and all contracts used for a company’s acquisition are created in a way that protects the desires and vision of the original owner.
Source: freep.com, “Made in Michigan: Flatout bread company sold for $92M“, Nathan Bomey, March 17, 2015