Friday, May 29, 2020

Pork rinds producer snapped up by private investment firm

Private investment firm, Highlanders Partners, has acquired pork rinds producer, Evans Food Group, via its newly-formed food platform, Benestar Brands, from Wind Point Partners.

Headquartered in Chicago, Evans is an international producer of branded, co-packed and private label pork rinds.

Benestar, a Catalan word that translates as wellness or well-being, is an apt new platform name to represent a product like pork rinds.

Under Benestar, the Evans operations will continue to be uniquely positioned to capitalize on this rapidly growing and better-for-you snack category.

“Food and beverage has been a focus and specifically the better-for-you, salty snack category,” stated Jeff L. Hull, President and CEO of Highlander.

“We have developed a team to focus in this area and to identify outstanding opportunities to grow our presence in the food sector. We intend to make additional acquisitions around this strategy, both for Benestar and in other sectors of the food industry.”

Highlander has been working closely with Carl E. Lee, Jr., who previously served as President and CEO of Snyder’s-Lance Inc before it was sold to Campbell Soup for over $6 billion in 2018.

Mr. Lee will assume the President and CEO position at Benestar and lead the company and the Evans operations on a go-forward basis.

“This business reminds me of Snyder’s when I joined as CEO; a leading manufacturer and distributor in a fast growing category focused on a shift toward better-for-you snacks,” he said.

“There is tremendous potential within Evans, and I look forward to implementing some of the strategies we used in the past to bring Evans’ products and other snacks to more consumers across the US.”

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