Wind Point Partners and portfolio company Evans Food Group ("Evans") are pleased to announce that Evans has acquired Gaytan Foods Inc. ("Gaytan"). Gaytan, founded in 1935 and headquartered in City of Industry, CA, is a leading producer of pork rinds on the west coast.
The combination of Evans and Gaytan creates the opportunity to leverage both companies' complementary product and brand portfolios and distribution networks.
Jose Luis Prado, Evans chairman and CEO, expressed, "I am delighted to welcome Ryan Gaytan, a third-generation owner, and the entire Gaytan team into the Evans family. Both companies share a passion for delighting our consumers with great products and being great partners to our customers for many decades. In this new phase we are confident that together we will be able to accelerate growth and create value for all our stakeholders."
The acquisition of Gaytan continues Wind Point's long history of partnering and working with family-held businesses and marks Evans first acquisition as the company seeks to expand and better serve its customers.
Joe Lawler, principal with Wind Point Partners, stated, "We are excited about the combination of Evans and Gaytan. Both companies share similar values and cultures. From a strategic perspective, the acquisition of Gaytan will enhance our presence and manufacturing capability in the important west coast market. We are also excited to expand our product portfolio and provide our customers with even more product solutions."
Ryan Gaytan, president of Gaytan Foods, said, "The merging of Gaytan and Evans, with the support of Wind Point, will create solid operational, distribution, and scale efficiencies that will fund our growth. Leveraging Evans' national brands and investment in technology with Gaytan's expertise in the Hispanic segment will be a win-win for our customers and team members. I am excited to remain actively involved in the continuing combined businesses and I am as committed as ever to ensuring the success of all our stakeholders."
Wind Point Partners acquired Evans in April of 2016 in partnership with Jose Luis Prado, a more than 30-year veteran of the global snacks industry. In cooperation with Jose Luis and management of Evans and Gaytan, Wind Point will seek to continue growing the Evans platform through a combination of organic growth and innovation as well as additional complementary acquisitions like Gaytan.
The Wind Point investment team has considerable experience in the consumer products and food space, an area of focus for the firm since its founding in 1984, with Evans representing the firm's 7th platform investment in the food space over the last decade.
BMO Harris Bank N.A. and Antares Capital led financing for the transaction. DLA Piper served as legal counsel to Evans.