The Nation announced its investment in the sausage company with Dallas-based Zaccanelli Food Group during a news conference held Monday at the Shenendoah Golf Clubhouse at the tribe’s Turning Stone Resort Casino in Verona, New York.
Oneida Nation Enterprises is the lead investor in the family-run business founded in 1879, reported Uticaod.com.
“This is really the first investment outside of our core businesses,” said Ray Halbritter, Nation representative and CEO of Oneida Nation Enterprises. “This investment also diversifies our Nation’s business interest, our financial interest, which adds to stability economically, particularly here in Upstate New York.”
Halbritter did not disclose the amount of the Oneidas’ investment in the multimillion dollar deal.
Other major investors include Syracuse University head basketball coach Jim Boeheim; restaurateur Phil Romano, owner of the national chains Fuddrucker’s and Romano’s Macaroni Grill; former Syracuse Police Chief and basketball player Dennis DuVal; former Dallas Cowboys quarterback and businessmen Roger Staubach; and Mary Ann Van Lokeren, former CEO of Anheuser Busch distributor Krey Distributing.
Rusty Flook, the former Hofmann president and a fifth generation family member, will remain active in the company.
Zaccanelli said Hoffman’s products—frankfurters, Italian sausage, hot links, bockwurst, kielbasa and German style mustard—will hit the shelves of 67 grocery stores in Texas on Memorial Day. Romano will also be developing a quick-service restaurant chain expected to debut in the coming month in Dallas before expanding across the country.