Situation
Fike’s Dairy, Inc., based in Uniontown, Pennsylvania, is a leading, regional, fresh milk supplier, serving grocery chains, convenience stores and food distributors throughout the Mid-Atlantic markets.

Objective
Having successfully owned and operated Fike’s Dairy for over 14 years, the shareholders believed the consolidation in the industry would provide an opportunity to maximize the value of their investment.

Solution
Matrix worked with the shareholders to devise a strategy that would maximize shareholder value and liquidity from a transaction. It was determined that a broad auction of Fike’s Dairy to a universe of potential strategic buyers was best suited to meet these objectives.

Matrix identified and contacted many strategic buyers and received several preliminary offers for the business.

Ultimately, Matrix and the shareholders selected United Dairy, Inc., headquartered in Martins Ferry, Ohio and Fike’s leading competitor for fluid milk business in the Pittsburgh market, to complete the transaction.