Cherry Tree Advises Victory Fireworks on their Sale to Winco Fireworks
“Selling ‘our first born’ was not an easy decision. Once we made that decision the real work began, not only to find a firm to represent us but for them to recognize the value in our company. After 18 months, we found the firm and more importantly, the right team to make the sale. We knew all the potential buyers prior to engaging Cherry Tree. We partnered with Cherry Tree to create a competitive situation amongst a small group of potential buyers and to run a disciplined process while managing all the moving pieces of the transaction. Cherry Tree’s experience and involvement in every aspect of the process, were key to us completing a transaction that had a great outcome for our family, employees, and customers. Cherry Tree and our engagement team are highly recommended.”
Wayne and Jackie Schulte, Owners, Victory Fireworks
Wholesaler and Retailer of Consumer Fireworks
100% Sale to Strategic Buyer
Winco Fireworks has announced that it has acquired the Victory Fireworks business from Wayne and Jackie Schulte. Victory Fireworks, founded in 1985, is a wholesaler and retailer of consumer fireworks, including some of the top items from the major brands, while also being the exclusive importer of their proprietary brand of Pyro King fireworks. Victory is headquartered in Ellsworth, Wisconsin and has grown to include 18 retail stores and 8 warehouses. Winco Fireworks has acquired the wholesale and retail business, including the related real estate, facilities and inventory in both Wisconsin and Washington. The Schultes will continue to own and operate the Victory Fireworks retail stores in Danbury and Siren, Wisconsin.
Winco Fireworks is an industry leading wholesaler and retailer of consumer fireworks. Winco has built a brand over the past 40 years based on quality products and customer loyalty. Prior to the transaction with Victory, Winco and its affiliates operate seven distribution centers and 33 brick and mortar retail stores, in 18 states. Winco Fireworks employs approximately 225 full time employees and over 2000 seasonal employees. Its corporate office is in Grandview, MO.
About Cherry Tree & Associates
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for high quality, entrepreneurially managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services. For more information, visit Cherry Tree & Associates.