Maple Ridge Farms (PPAI 114165, Gold) has announced the acquisition of St. Louis-based Sweeter Cards (PPAI 810735, Standard-Base).
- It’s the first acquisition in the Mosinee, Wisconsin-based gourmet food company’s 45-year history.
- Maple Ridge Farms is the No. 60 supplier in the PPAI 100.
As a result of the deal, Sweeter Cards will continue to operate from St. Louis and carry the same chocolate, but there will be overlap in the firms’ product offerings and sales teams.
“Sweeter Cards is an incredibly good fit for us,” says Tom Riordan, founder and president of Maple Ridge Farms. “The enthusiasm and synergy between these two companies is incredible.”
Your Reputation Precedes You
Riordan is quick to credit Jodie Schillinger, MAS, executive vice president at Maple Ridge Farms, for spearheading the deal.
Although M&A was never a focus for the company, Schillinger says she’s always on the lookout for the next big thing. While a local candy maker or ice cream provider may have caught her eye over the years, nobody has had a more compelling story than Stacy Stahl, who launched Sweeter Cards in 2019.
- The company’s flagship product is an all-in-one, fully customizable greeting card and chocolate bar.
- As a woman-owned enterprise, Sweeter Cards prioritizes fair trade-certified chocolate, recyclable card packaging and the employment of adults with disabilities.
“When I read her story, I thought it was brilliant,” Schillinger says. “She’s a fascinating entrepreneur, thoughtful, but fast moving, and knows how to incorporate fun in her design work, which our marketing team and I absolutely admire and love.”
Schillinger met Stahl at The PPAI Expo 2024, where the latter was the runaway champion of The Pitch, winning over a panel of veteran distributor judges. Of course, Stahl was well-aware of Maple Ridge Farms’ dominant presence in the promotional products industry, praising it as the “shining example of how a food company can be great in this space.”
But she was blown away by Schillinger’s warmth and open arms, especially considering they were competitors at the time. Schillinger followed up a month or so later to see if they could collaborate on any projects and learn from each other. After finding complementary strengths in their personalities, dedication to their customers and the ethos of their businesses, Stahl says an acquisition seemed inevitable.
“From the moment it was on the table, it felt like it was the perfect match,” Stahl says.
Missing Ingredients
Ultimately, the acquisition came together because both parties have something the other desires.
In addition to Sweeter Cards’ values aligning with those of Maple Ridge Farms, the former offers a solution to a problem that the latter has never been able to crack.
“We’ve struggled to find a good quality gift for the under $20 price point,” Schillinger says. “Although we have gifts in that category, Sweeter Cards is really going to help amplify that. We want to create this brand legacy with an impactful message. To find a partner that represents those same values and leads with integrity, fun and delicious food doesn’t happen a whole lot, especially under that $20 price point.”
As for Stahl, she feels as if she’s taken her company as far as she can on her own. Joining an established player in the food market can instantly broaden Sweeter Cards’ reach. After all, Maple Ridge Farms has relationships with nearly seven times as many distributors as Stahl’s firm does.
“It’s hard to grow without additional resources,” Stahl says. “I love bringing ideas into reality, creating efficient supply chains and processes around them, essentially creating a well-oiled machine. Once that machine is ready to go, it leaves me just in a sales position. There’s a lot of potential, but with just little ol’ me, I can take it only so far. I was primed for a larger organization with deep sales relationships, and I don’t know anyone with deeper relationships than the Maple Ridge team.”
Anticipating exponential growth due to the acquisition, Stahl says her role will be to continue managing brand awareness, as well as working with the Maple Ridge product team on innovation.
“There’s just so much brand alignment, which is hard to find,” Stahl says. “Every conversation I’ve ever had with someone who could be a potential acquirer, my thoughts are always half in my brain and half in my heart. If the integrity or the overlap in mission and values isn’t there, then the conversation doesn’t go much further than a handshake and a ‘take care.’”
Hit The Ground Running
The deal couldn’t have come at a better time, as both companies are gearing up for the holiday season – their busiest period of the year.
- Riordan says Labor Day weekend kicks off the marketing push for holiday orders.
- Maple Ridge Farms has 27 full-time employees and ramps up to 300 seasonally, Schillinger adds.
The companies plan to introduce new gourmet treats within Sweeter Cards’ offering (cookies were added before the acquisition), featuring Maple Ridge Farms’ diverse array of food items. For example, jelly beans and gummy bears could soon find their way into Sweeter Cards’ greeting cards, Riordan says.
He also hasn’t shut the door to further acquisitions, but it depends on the opportunity. Considering he and Stahl just happen to be kindred spirits, this deal was too sweet to pass up.
“We think alike,” Riordan says. “She has really good instincts, which is important for anybody in business. She’s very personable and likeable, and of course, people like to do business with people they like. She’s also very quality oriented, which works very well with us because we don’t want to have the cheapest gifts out there. We want to have the best.”
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Stahl says that she sees a lot of herself in Riordan, and vice versa, emphasizing the shared chemistry in how they view their businesses, clients and products.
“I’ve already learned a lot from his tried-and-true stories,” Stahl says. “Both of my parents were lifelong entrepreneurs, so I’ve seen what it means to put your heart into something for so long, and I really admire that in Tom.”
It’s a mutually beneficial relationship in many ways, says Schillinger, who’s eager to learn from Stahl’s lean efficiencies while imparting some of her wisdom from two decades in promo to the industry up-and-comer.
“Stacy’s story and Sweeter Cards is part of our branding ethos moving forward,” Schillinger says. “Together, we’re here to help grow the Sweeter Cards brand within Maple Ridge while being true to Stacy’s story just as true as we are to the Maple Ridge story. It’s an organic fit that will help hype a vibe on the foodie scene.”
Written by: John Corrigan
Published with Permission from PPAI
