", Feeling tremendous pressure to keep the business growing at a rate of 15% a year, David and Paul talked about selling the company and spending more time on their philanthropy. David and Laura's philanthropic passion started years prior to the formal funding of the organization. 1 company in the world mass-producing frozen Belgian waffles. These young people have made significant sacrifices by leaving their homes and families to move to Israel and protect our Jewish homeland. 2020. In 2002, Chef America generated $750 million in revenue. "We couldn't compete against the lunch and dinner market," says David, "so we started thinking about satisfying snacks that kids could make in a microwave oven without cutting or burning themselves and that adults could eat on the run.". Paul followed up with two brilliant brainstorms: 1) Paul realized that as more women entered the workforce, they wouldn't be home to fix their kids an after school snack.
Katherine remains active in her philanthropic endeavors. In 1977, David Merage and his brother, Paul, founded Chef America, Inc. best known for developing the popular microwavable snack, Hot Pockets. This model allows Laura and I to be truly diverse in the types of programs and endeavors in which we become involved. Over time sales started to take off. At its peak, Chef America was manufacturing 30 different pocket products, and each production line was turning out 800 to 900 Hot Pockets a minute. Arik Sharon and his administration encouraged my organization to embrace this challenge. This is Paul Merage's 45,000 square-foot mansion: How did Paul Merage become a billionaire? The Denver Post has recently praised RedLine Art Center and Black Cube Head Quarters for their daring new exhibits. Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. Merage Israel: In 2000, together with Laura and my mother, Katherine, we began our philanthropic work in Israel. Tell us about your special connection to Israel and more specifically to the Israeli-Iranian community. The David and Laura Merage Foundation has generously committed to providing continued support through 2022. How can such a small nation forget about this huge part of the countrys territory? The glorious frozen creations known as Hot Pockets were created by two Jewish-Iranian brothers named Paul and David Merage, who immigrated from Tehran to the U.S. for college, according to Saveur.After earning an MBA, Paul worked in marketing at Maxwell Coffee House, but a trip to Europe inspired him to start a frozen waffle business alongside his brother, and thus, former frozen food giant . They instantly knew this larger-style waffle could be a huge hit back in America where the consuming public had only ever experienced thin Eggo-style waffles. Starting with the spring of 2015 and stretching through last year, the Tampa Bay Lightning made it to at least the conference final six of eight years.
The Forgotten Immigrant Origins of America's Most Iconic Microwavable Snack He has been board member and a leading donor for the Pacific Symphony and has served on the board of the Orange County Performing Arts Center. The scheme was uncovered before the girls were actually admitted.
As an accomplished artist and venture philanthropist, Laura Merage works to positively influence the lives of thousands of people every day. "The management shared the same culture as Chef America [and] had a high-quality product and room for growth," says David. Community Development: The foundation founded Equitas in December of 2013, to raise public awareness and to implement sensible programming and policy for managing mental and behavioral health challenges. David's nephew Ben Levy started working with CIG in 2011 as a private equities manager. Its history. My family represents three generations of philanthropists that began with my parents, and we are now working on a fourth generation: my grandchildren! They called the company Chef America, Inc. To get the company's first capital to launch, Paul took out THREE mortgages on his home. "After a year and a half of testing, we developed the first generation of frozen waffles. At the age of 15, he traveled to England to pursue his studies and then completed his formal education in the United States with a Bachelor of Science degree in Marketing from California State University. In 2002 the David and Laura Merage Foundation (DLMF) was officially established to create a more equitable society for all and to leave a legacy for future generations. Founded in 1977, the company behind the microwavable meals,.
How did they do it? At the age of 15, he traveled to England to pursue his studies and then completed his formal education in the United States with a Bachelor of Science degree in Marketing from California State University. Redline Art Center has been noticed Redlines new exhibit Carey Fisher, curated by Cortney Lane Stell, brings together two popular landscape painters. David Merage is a successful entrepreneur and venture philanthropist who lives with his wife, Laura, an accomplished artist, in Denver, Colorado. Laura: I'm one-half of the David and Laura Merage Foundation. Laura holds a Masters degree in Art from New York University and is an accomplished artist/photographer with works in public and private collections nationally and internationally. Through a rigorous selection process, this program works with reserve companies that demonstrate a high degree of leadership and commitment to community building. In later years the company expanded the brand to Lean Pockets, Croissant Pockets and Breakfast Pockets.
Photo Essay: L.A.'s Iranian Jews repaying Alliance's generosity "Behaviors associated with poor mental health and addiction are mistaken for, and treated as, willful criminality," said David Merage. For the past 13 years, he has divided his time equally between building his business and actively guiding his philanthropy. DeserTech Jonathan Merage has recently boosted his continued donations to the University of Hawaii at Mnoas Science and School of Ocean and Earth Science and Technology David Merage, founder of the David and Laura Merage Foundation, joined prestigious business leaders from Colorado as a presenting sponsor of EPICs (Executives Partnering to Cortney Lane Stell, executive director and chief curator of Black Cube Nomadic Art Museum was recently interviewed by Westword, a Denver based news publication.
Reese Witherspoon Sold Her Los Angeles House to a Hot Pockets - DIRT He was co-founded Chef America Inc., a privately-held. ". By incorporating real business experience, an entrepreneurial spirit, and a passion for social impact, we provide the best services and quality no matter what we do, and we go where not many people are willing to go. Andre, David, and his brother, Paul, founded Chef America, Inc. in 1977 and subsequently developed Hot Pockets, a frozen-food product that quickly became a staple in supermarkets across the country.
The mission of our Foundation in Israel is to empower individuals and communities; we incubate and accelerate circles of change those who are strengthened, strengthen others, and lead the way to promoting the prosperity of Israel and the well-being of all its citizens. Family passions and reputation stand behind the wines of California's wine families. Early Childhood Education: The foundation is leading Early Learning Ventures, an initiative to enrich education for children ages birth to five years old.
5 Iranian-American Siblings Who Harnesses the Power of - Entrepreneur "He instilled in us the belief that family members working together were stronger than any one of us could be working alone.". I always wanted to take my knowledge of business and management, to give back to the communities that directly affected my life. A decade later, they made an astute observation that would change their lives. Wings: For the past 15 years, the Wings Program has been providing immigrant youth and lone soldiers with the tools they need to enter Israeli society as confident and active citizens.
David And Laura Merage Foundation - Nonprofit Explorer - ProPublica By 1985 Chef America was finally getting Hot Pockets stocked on shelves in supermarkets around the United States. This is how Pakal was born, two years ago. [2] For over a decade Merage has been a major and active supporter of El Sol Academy, a dual immersion charter school in Santa Ana, California founded in 2001 with 110 students, later enrolling nearly 1,000 students in preschool through eighth grade. Mr. Merage continues as a very successful businessman and currently leads one of the largest and most diversified real estate and investment companies in the United States. "I don't know of any other country where people can succeed through their best efforts as they can here," David says. CIG does not just write a check. At CIG, I have created a culture that fosters an environment of respect, integrity and tolerance of others. Deanne Stone is a business writer based in Berkeley, Calif.
David Merage Profiles | Facebook Chef America wanted a more central location between its California and Kentucky manufacturing operations. What initiatives does your foundation support in Israel? The David and Laura Merage Foundation, based in Colorado, focuses on community development and early childhood education. For the past 22 years, we have created a variety of programs that have improved the life trajectory of hundreds of Iranian-Israeli families, creating multi-generational change. David Merage is a successful American businessman and venture philanthropist who co-founded the frozen microwave snack Hot Pockets. November 21, 2022. My parents told us that the money wasn't to be used to change our lives, but to change the world around us.". [4] Hot Pockets were manufactured in Englewood, Colorado, Chef America's former headquarters, until moving its business to the rest of Nestl's frozen business in Solon, Ohio.
The boot camps are focused practical, best practices, on how to best introduce and promote new Israeli technologies in the U.S. to the mutual benefit of both nations. DAVID AND LAURA MERAGE FOUNDATION ENGLEWOOD, CO 80112-5622 | Tax-exempt since June 2003 EIN: 45-0493925 Classification(NTEE) Private Independent Foundations (Philanthropy, Voluntarism and. In partnership with the Jewish Agency, Wings offers a continuum of services, from the time they first arrive in Israel and years after their release from the IDF. CIG supports five family foundations: the David and Laura Merage Foundation, the Andre and Katherine Merage Foundation, Early Learning Ventures, the Jonathan Merage Foundation and the Sabrina Merage Foundation. The David and Laura Merage Foundation, based in Colorado, focuses on community development and early childh Brothers Paul and David Merage created a snack sensation with their Hot Pockets, which became a household name. In what areas are you involved? Through his company, Consolidated Investment Group (CIG), David invests in real estate and the capital markets. After two years of trial and error, they developed a frozen sandwich that tasted good and didn't get soggy when heated. We constantly look for opportunities that tap into existing networks and infrastructures that avoid duplication. Due to the company's success throughout the 1990s, the Merage brothers sold their business to Nestle in 2002 for roughly $2.6 billion. He brought his son and one of his brothers as co-founders. "He surrounds himself with exceptionally capable people and then gives everyone opportunities to learn, contribute and succeed. His older brother, Paul, had graduated from the University of California at Berkeley. To kindle the younger generation's interest in philanthropy, their grandmother, Katherine Merage, gave each of her 13 grandchildren the gift of a foundation and the freedom to make their own decisions about how to give away the money. [3] He has four siblings: Louise, Camron, David, and Lin. Mr. In 2005, Paul and Lilly Merage donated $30 million to the School of Business at University of California, Irvine, which was renamed Paul Merage School of Business in his honor. David's wife, Laura, also born in Iran, is an artist who has a strong presence in the Denver art community. As part of our Community Development division, we are leading four major programs. "Initially the money felt like a burden," she says, "but once I came up with a mission, I realized what an amazing gift my grandmother had given me." Copyright 2015 by Family Business Magazine. His sister, Sabrina Merage, has been vice president of corporate strategy at CIG and a core member of the business team since 2012. Chef America then marketed Hot Pockets nationally. A Teeny Tiny Blemish There's just one. Why was this company an attractive investment to CIG? At the time of its sale to Nestl in 2002, the company had reached $750 million in annual sales, employed 1,800 people, and was growing at a rate of 15% per year, making it one of the fastest-growing food companies in the world. My team would continue meeting with them and helping in any way they could. She has studios in Denver, Hawaii, and Israel. David Merage was co-owner and co-founder of Chef America, Inc., a national frozen . [1] Biography [ edit] Merage was born in Iran in 1943 to a Jewish family, [2] the son of Katherine and Andre Merage. "When the prices of ingredients went up, we asked our research and development team to find ways to offset them," says David, "and we looked for ways to be even more efficient. David was born to Andre and Katherine Merage in Tehran, Iran, in 1949 as one of five children. Feeling alone and searching for a sense of community, she pioneered innovative ways for artists to be part of a collective that gives them inclusion and support. MFI's DeserTech Initiative Partners with United Nations. David, who moved with the company to Denver years earlier, launched his own investment firm called the CIG Group. They're better than their record, but it might already be too late for them to contend, even in the mediocre AL Central. I kid you not. Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified place.
Clarkston : A Documentary About the Most Diverse Square Mile - David "We think both of these products will appeal to millennials on the go, and we'll use all of our resources to make their manufacturing and operations more efficient. In 2012, CIG made its first investment in a Minneapolis-based company, Funky Chunky, which makes artisanal chocolate caramel popcorn and gourmet snacks. . Financially set for life, David could have enjoyed a grand retirement, but the concept is contrary to his nature. My father, Andre, an entrepreneur himself, encouraged us to build a family business as a strategy to foster personal and familial strength. I was able to help her, and I began actively supporting hundreds of Iranian-Jewish families on their struggling path to Israel. Over the years, the program has evolved to become a unique empowerment framework for women, which includes over 10 Iranian womens clubs throughout Israel. After the sale, he co-founded MIG group of investment companies in 2003 with Richard Merage and Greg Merage. The primary mission of his foundation is to promote self-sufficiency through education and community development in the United States and Israel. [1]. By 2002, their company, Chef America Inc., was one of the most profitable privately held food companies in the world; the brothers sold it to Nestl for $2.6 billion. Stell 18 Inverness Place East, Englewood, CO 80112. In 2005 Paul donated $30 million to the University of California's School of Business, which was then renamed the Paul Merage School of Business. Once again, the brothers were back in the kitchen experimenting with recipes. ", Philanthropy is the fourth CIG operation and, David stresses, is equal to the firm's other operations. I saw in the Negev, Israels land of opportunity; a blank piece of paper to write the next chapter of the new Zionism. David and Paul Merage[3] co-founded Chef America Inc. where they created the popular microwavable snack Hot Pockets in the early 1980s. Our movie is more than just theology. [5], Paul Merage's daughter Michelle Janavs, a food executive who was at one point regarded as the Hot Pockets "heiress," was later implicated in the notorious Operation Varsity Blues college admissions scandal and later sentenced in February 2020 to five months in prison after pleading guilty to paying Rick Singer $100,000 to fix test scores for her two daughters so they could be admitted into the University of Southern California.[6][7]. Redline is renowned in the Denver area for being Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified Merage Foundation Israels DeserTech has partnered with the Global Mechanism of the United Nations Convention to help African nations build the Great Green Wall. When David and his brother sold Chef America in the early 2000s, David and Laura decided to deepen their giving by establishing a multimillion dollar foundation, using funds from the sale for philanthropic investment. MIG Private Equity is a fund of funds with a portfolio of investments ranging from consumer products to technology companies. "For months we spent every night in our mother's kitchen cooking up recipes," says David. Outside of their investment firms, the brothers also dove head-first into philanthropy. Katy Perry, Luke Bryan and Lionel Richie were powerless to save a couple of their faves this time. "And we wanted to sell to an operating company that would retain our management team and other employees.". For reprint information, contact bwenger@familybusinessmagazine.com. Each door leads to a new challenge that brings joy and a renewed sense of accomplishment. Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified. Today, David, 66, is principal of Consolidated Investment Group in Denver, the firm he started in 2002. Special Needs Financial Planning: Smart Advice For Families Coping With Disabilities, Family Matters: The Best California Wines Come From Family-Owned Vineyards, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. by Ernie Smith, Orange County Business Journal: "Profiles of wealthiest in Orange County", Jewish Journal: "Photo Essay: L.A.s Iranian Jews repaying Alliances generosity" by Karmel Melamed, School receives $30 million gift and new name, UCI Paul Merage School of Business, University of California - Irvine, https://en.wikipedia.org/w/index.php?title=Paul_Merage&oldid=1141890543, This page was last edited on 27 February 2023, at 11:16. Through our Merage Foundation initiatives we create opportunities that increase well-being and positive life outcomes. He and brother Paul Merage later sold the company to Nestl for $2.6 billion. Today, I am principal of Consolidated Investment Group, a Denver-based investment firm, focusing on Wall Street and real estate investments. There's the American Dream, and then there's the spectacular success achieved by immigrant brothers David and Paul Merage. Today, David is an investor and venture philanthropist. That same year the brothers decided to sell the business to Nestle.
Mental Health Colorado Expands its Focus on Criminal Justice "CIG is driven by excellence. $3,601,544. Financial Aid Is Changing. David and Laura combine their decades of entrepreneurialism and creative problem-solving abilities to tackle some of the worlds biggest social challenges. This allow us to remain lean and to scale rapidly in order to reach our full potential and benefit as many people as possible. 2023 Forbes Media LLC. CIG currently has a staff of 74, including David's daughter, Sabrina, 29; his wife's nephew Ben Levy, 34; and Rob Nelson, one of six former managers from the Chef America team. Redline is renowned in the Denver area for being Cortney Lane Stell, executive director and chief curator of Black Cube Nomadic Art Museum was recently interviewed by Westword, a Denver based news publication. On one European trip, the brothers discovered Belgian waffles. Chef America already had breakfast covered with waffles, and the frozen dinner category already had a dozen dominant players like Swanson's.
Michelle Janavs Husband Janavs' is very private about her personal life therefore it is not known if she is in any relationship. But more financial planners are aiming to help. David and Laura, who came to the U.S. as teenagers, recognize that America has been very good to them. Sign up for The Jerusalem Post Premium Plus for just $5, Upgrade your reading experience with an ad-free environment and exclusive content.
Who Invented Hot Pockets? These Are the Geniuses Behind - Distractify After graduating from Sacramento State University with a degree in marketing, David began investing in real estate with his father and demonstrated a keen eye for identifying and capitalizing on market trends. At some point in the early 1970s, the brothers were vacationing in Europe and had their first ever Belgian waffle. Laura is also the founder of Black Cube, which works with artists to produce pop up exhibitions in unexpected places while helping artists further their professional careers. Cities and what people think and feel about them frame in a deep way how we deal with housing policy and economics. She founded the Sabrina Merage Foundation in 2008 with the intention of building bridges between diverse societies. At the time, Sabrina was just graduating from college and thinking more about her career. I believe that philanthropists must also know that things change, evolve, advance, and that they certainly dont have all the answers about the needs and solutions of the communities they serve. In 1977, annual sales topped $12 million, but the brothers recognized that they would have to expand beyond the breakfast market for the business to keep growing. David and Laura's 33-year-old son, Jonathan, has forged his own path as a storm chaser interested in extreme weather and its consequences. Sabrina Merage Naim, daughter of David and Laura Merage, is a passionate and engaged philanthropist working toward making the world a more equitable and unified. In order to create opportunities for economic growth and high-quality jobs, the foundation acts as an integrative body to convene and mobilize the key stakeholders and nurture an environment where these clusters can mature and flourish. When I was in high school, the mark of a really fun Friday night with the boys was a tray of Hot Pockets sliding into the microwave. Having raised his sons with dreams of excelling in business, Andre sent them abroad to be educated. David Merage is a successful entrepreneur and venture. In 1983, Hot Pockets were introduced to retail supermarkets and, within a short time, was a household staple. Mike Tyson talks a possible WWE match with Logan Paul, the WWE-UFC merger and the launch of Tyson Pro. Laura is an artist and photographer with works in public and private collections nationally and internationally. Merage developed the concept of a quick two-minute microwaveable meal which was all enclosed in a crust for ease of handling, using nothing more than a paper towel. Paul Merage is chairman of MIG Capital which he co-founded with his son Richard and Greg Merage, a member of the extended family, while David Merage runs Consolidated Investment Group. Paulreferred to by David as a marketing geniuswas convinced that there was a big market for them in the States. View the profiles of people named David Merage. David and Laura are natives of Tehran, Iran, who immigrated to the United States in their early teens with hopes of a better future. Initially, Paul Merage had to obtain three Mortgages on his home to fund the business. David Merage created a new category of convenience food products when he founded Chef America and developed and distributed HOT POCKETS brand sandwiches. It is my greatest joy to see our philanthropic commitment to Israel extend through three, and now four generations, of my family. She wanted to run away to Israel and asked me for help. David and their father began investing in real estate while Paul was toiling away at General Foods. A few weeks ago I was doing some research on the largest home in one of the wealthiest zip codes in America, the Orange County enclave of Newport Coast. Its oppression, says Rocky.