Shearer's to Acquire Snack Alliance
Shearer’s Foods has signed a definitive agreement to acquire Snack Alliance, Inc. and its Canadian affiliate.
The move would combine Shearer’s, a leading producer and distributor of high quality branded, contract pack and private label seasoned snack foods, with Snack Alliance, one of the fastest growing branded, contract pack and private label snack producers in North America. Completion of the transaction will be subject to customary regulatory approval.
“The combination of Shearer’s and Snack Alliance will create a leading North American supplier of private label and contract pack salty snack products, complemented by the high-growth riceworks brand,” says Robert J. Shearer, chairman and CEO of Shearer’s, based in Brewster, Ohio. “The product manufacturing capabilities and geographic diversity of the combined companies will enable us to service our customers even more effectively.”
Shearer’s is majority owned by Mistral Equity Partners, a private equity firm focused on the consumer, retail and consumer-focused media sectors. Hermiston, Ore.-based Snack Alliance is owned by Trimin Capital, a Canadian private equity firm, and is a member of the company’s management team. Rabo Securities USA, Inc. acted as exclusive sell-side financial advisor to Snack Alliance.
“The Snack Alliance acquisition will greatly enhance the scale, scope and product development capacity of the Shearer’s organization. The resulting company will be uniquely positioned to support its private label and contract manufacturing partners on a nationwide basis and will benefit from the substantial growth expected in these segments,” notes Andrew Heyer, managing partner of Mistral Equity Partners, based in New York City.
Shearer’s employs approximately 900 associates in nine locations, including four manufacturing plants and five distribution facilities. The company offers branded and private label snack foods including a complete line of potato chips, tortilla chips, pretzels, cheese curls/puffs, peanuts, popcorn, corn chips and other snacks, which are distributed throughout the Midwest, New England and parts of Canada. Shearer’s has received numerous honors and awards from industry associations and customers.
Snack Alliance employs more than 400 people across the United States and Canada. The company produces a variety of private label, contract pack and branded snack products including potato chips, tortilla chips, cheese puffs and popcorn.