Schreiber Pockets Level Valley Creamery
The two companies announced the buyout last month.
"The acquisition gives Schreiber further depth and breadth as a dairy industry leader," said Larry Ferguson, Schreiber's pres./CEO. "The combined strengths of the two organizations will enable us to serve our customers better than ever."
The 107-year-old Level Valley employs more than 225 people at facilities in West Bend and Nashville, Tenn. Those workers process a line of dairy products and ingredients that includes cream cheese, sweetened condensed milk, butter, anhydrous milk fat, and milk powders.
Schreiber will retain Level Valley's Pres./CEO Al Costigan, and his partners Dick Rosenbalm and Bill Koch. Schreiber is one of the largest cheese manufacturers in the United States with annual revenues of more than $2.2 billion. It rose to the No. 5 position in Dairy Foods' Dairy 100™ last year after acquiring cream cheese specialist Raskas Foods of St. Louis. Level Valley's annual sales are estimated at $138 million.