Munroe Dairy under new ownership
The new ownership group, led by Tracy and Bill Daugherty as managing partners, is purchasing the company and its assets from Rob Armstrong and the Armstrong family.
Munroe Dairy, East Providence, R.I., is being sold to a group of local families who are long-term customers and dedicated to continuing the company’s tradition of delivering farm-to-table milk and fresh local products to Rhode Island and Southeastern Massachusetts.
The new ownership group, led by Tracy and Bill Daugherty as managing partners, is purchasing the company and its assets from Rob Armstrong and the Armstrong family. Armstrong was the third generation of his family to lead the company, and will remain an adviser.
“We were absolutely determined to find the right stewards for the company going forward,” Armstrong says. “Munroe is truly a family, made up of our employees and our customers. It was critical that the new owners understood and are committed to Munroe’s history of excellence. We hit it out of the park with this group of families.”
“Munroe Dairy is an incredible Rhode Island success story,” says Tracy. “We are committed to providing the resources needed to make Munroe’s service even better and to working with Munroe’s dedicated and talented team to help the company thrive in the years ahead. One hundred thirty-six years of success is a high bar.”
The new owners are retaining all 73 employees, including the entire management team, as well as the real estate on North Brow Street in East Providence, which will remain the company’s headquarters.
“This is a great new chapter for all of us,” says Mat Levin, general manager. “Our milkmen will hit the road at 3 a.m. tomorrow morning very excited about the future of Munroe.”
The new owners plan several investments to improve the customer experience, including launching a new mobile app and opening a commercial kitchen to expand on its Sacred Cow line of baked goods. Plans are also underway for new partnerships with local food and beverage brands.
“With the resources and energy provided by the new ownership group, we are well-positioned to exceed our customers’ expectations,” Levin says.