Members of Shearer's Foods' management team, led by CEO Bob Shearer, will remain in their currrent positions following the purchase of the Brewster, Ohio-based company by Mistral Equity Partners, a private equity firm located in New York. Shearer's joins businesses like The Hain Celestial Group and Otis Spunkmeyer, which also are owned by Mistral.

"Shearer's has a leading and unique position in the snack food market that is supported by strong, long-term customer relationships and an experienced and well-respected management team," notes Andrew Heyer, Mistral's chief executive. "We look forward to working with Shearer's management team to achieve new levels of growth."

Shearer adds that his executive team also will be investors in the business, along with other co-investors.

"This is a great opportunity for Shearer's management, associates and our community," he says. "Our focus on quality and product excellent has been a core principle of our company throughout its history, and this will continue as we grow our business."

Heyer founded Mistral in 2007. The company primarily invests in North American companies with values between $100 million and $500 million.

For more information about the two companies, visit www.Shearers.com and www.MistralEquity.com.