Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
“A lot of training, a lot of hiring, a lot of planning,” is on Ben To’s agenda these days.
That’s since Oakdale-based Bonton Bakeries landed a $50 million contract to supply baked goods to two large food service companies, Aramark of Alabama and Sodexho of Maryland. In turn, Bonton’s products will go to cafeterias of Minnesota companies such as General Mills and 3M.
It took a long time to land the contract, and To says Bonton got it because of the “reputation and quality” of the company’s goodies. “They gave us time to make sure we can work it out,” To says. “We’ve been testing the market for years.”
Bonton was doing about $2 million a year in sales, To says. “You double your size, that’s big. Your triple your size, that’s amazing. For us it’s 10 times,” says To, who is vice president. “To go to $50 million, it’s out of proportion.”
To is from Vietnam, and came to Minnesota 25 years ago. His father and grandfather were bakers. When the family came to the United States, To’s father purchased bakeries, a donut chain and a restaurant. Bonton has opened three retail bakeries within the past year as well.
To says the company is looking at financing options, and has “a lot of great help coming in,” with consultants from finance, marketing and other arenas.
Ben To, Bonton Bakeries: 651.702.0234
