Sangamon County’s largest manufacturer was sold today to an out-of-town conglomerate, marking the end of five generations of control by the Bunn family.
Bunn is now in the hands of the Ali Group, a Chicago-based foodservice international company that “designs, manufactures, markets and services a broad line of commercial and institutional foodservice equipment used by major restaurant and hotel chains, independent restaurants, hospitals, schools, airports, correctional institutions and canteens,” according to the website.
Terms of the sale were not disclosed.
Two main questions surround the sale: 1. Will Springfield remain as the main headquarters and manufacturing hub of the company, and 2. Is there a possibility of layoffs for any of the company’s estimated 850 Springfield employees?
John Voss, chief financial officer of BUNN, told Illinois Times, “We have no additional comments at this time,” when posed those questions.
One BUNN employee, who requested anonymity, told Illinois Times as he was walking to his car following his day’s shift, “We were just told a few minutes ago. They didn’t tell us much. Nobody knows what’s going to happen. Hopefully, there won’t be layoffs.”
The same employee said, “They said (Ali Group) is a family-owned company, so maybe that’s good for us.”
“The acquisition of BUNN marks an important step in strengthening Ali Group’s leadership in the global coffee and beverage equipment sector and advancing our long term growth strategy,” Filippo Berti, Ali Group chairman and chief executive officer, said in a prepared statement. “BUNN brings a strong heritage, a culture of innovation, and a highly complementary portfolio that expands our global capabilities. Together, we are well-positioned to deliver even greater value to our customers and accelerate growth across key markets.”
BUNN was founded in Springfield as a grocery store in 1840 by Jacob Bunn, and a young Abraham Lincoln was one of the store’s regular customers. The company enlarged to become a wholesale grocer and, in 1963, Bunn-O-Matic Corporation became its own separate entity in the beverage dispensing equipment business, specializing in home and commercial coffee machines. Springfield serves as the corporate headquarters, although BUNN has two additional U.S. locations as well as warehouses or offices in Canada, Mexico, Brazil, China and the United Kingdom.
Prior to the sale, the company was still privately owed by Arthur “Hy” Bunn.
This is a developing story and will be updated.
