Auctioneer Chris Colson said he's been asked to auction the Blackhawk Bakery property at 1049 Park Avenue, because the owners, Don and Gerry Dixon, want to retire, but haven't had any luck selling the business through a realtor.
"It is a very heartfelt situation, where they are selling this business. It is a love of theirs, and as everyone knows, a very long-standing tradition here in western Kentucky," Colson said.
Colson said as much as the Dixons would like to the business to remain, and keep making their trademark dinner rolls, it's his job to sell the property in such a way that it makes them the most retirement money.
If a buyer purchases the property through the realtor, the auction won't happen. And if someone buys the business and property, and indicates they want to continue the bakery's tradition, the business can remain intact, with their recipes, accounts, equipment, and staff already in place. If not, the property and equipment will be sold separately, and Blackhawk Bakery will fade away.
If the business doesn't continue, the Dixons could then sell the recipe,for their famous Dinner Flake Roll, with a minimum reserve price that must be reached.
An absolute auction of property for an estate or business always takes a toll on the owners, and Colson says it's a huge responsibility for him, too, especially with this sale.
"I'm representing a 66-year family tradition. On a week-to-week basis, people are entrusting me with their life's savings, and it is a big responsibility," Colson said. "This particular situation could be a bittersweet ending if Blackhawk doesn't continue."
Colson said he's been asked about the business, and told the Greg Dunker Show on WKYX that contrary to what many believe, the bakery has not shut down - it has been operating, but an exit strategy has been in place for the Dixons for the last couple of years. They have slowed production because of the impending sale, but orders are still coming in.
The bakery entered into a contract with SYSCO, a wholesale company that supplies stores, which means that Blackhawk gets orders through SYSCO for stores, hotels, schools, and restaurants all over the world. Colson said that is a huge selling point for the business, because there is guaranteed demand on the first day of business for the new owner. Regionally, rolls are distributed to stores in 14 states.
Blackhawk bakery was founded in 1947 by Gerry's Aunt Geraldine and her husband, Jim Dickerson, and was named after the Blackhawk Battalion that fought alongside Jim in World War II. Many family members worked at the bakery, and when Jim died in 1977, Geraldine continued to work at the bakery until she retired in 1984 at age 77. Don and Gerry bought the bakery at that time.
The auction will be held on Saturday, May 11 at 10:00 am at the property, and Colson said the equipment will all be running, so potential bidders can see how everything works and get questions answered. There is also a production video of the bakery, which you can see below.
For more details about the terms of the auction, visit www.colsonsells.com .
