EAST PROVIDENCE – A.B. Munroe Dairy Inc. has been sold to an ownership group comprised of local families led by Tracy and Bill Daugherty, Munroe Dairy announced Monday.
The company was founded in 1881.
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The new ownership group purchased the company from Rob Armstrong and the Armstrong family. Armstrong will enter retirement but will remain an adviser to the company. Rob was the third generation of the Armstrong family to run the business.
The new ownership group said it is committed to retaining all 73 employees, including its entire management team and said they have ensured that Munroe Dairy will remain a family-owned Rhode Island company.
“We were absolutely determined to find the right stewards for the company going forward,” Armstrong said in a statement. “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.”
The company’s headquarters will remain on North Brow Street in East Providence.
“Munroe Dairy is an incredible Rhode Island success story,” Tracy Daugherty said in a statement. “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 said they are currently in the process of improving Munroe’s customer experience, including the launch of a new mobile app as well as the opening of a new commercial kitchen to expand its Sacred Cow line of products.
“With the resources and energy provided by the new ownership group, we are well-positioned to exceed our customers’ expectations,” said Munroe Dairy General Manager Mat Levin in a statement.
Details of the sale were not provided.
Chris Bergenheim is the PBN web editor.
