USA – Highlander Partners, a Texas based private investment firm through its newly formed food platform, Benestar Brand, has acquired Evans Food Group from Wind Point Partners.
Based in Chicago, Evans Foods produces and sells a diverse portfolio of finished pork rinds and pork rind pellets to customers in the U.S., Canada and more than ten countries across Latin America.
The world’s leading producer of branded and private label pork rinds diverse branded portfolio includes Mac’s, its largest branded offering, as well as Turkey Creek, Don Rudy, Cazo de Oro and Domingo’s.
Highlander said that the acquisition will enable Evans operations to be uniquely positioned to capitalize on the rapidly growing snack category.
“Highlander has experienced rapid growth over the past five years, with assets under management growing to over US$2 billion,” said Jeff L. Hull, President and CEO of Highlander.
“Our strategy has been focused on developing verticals that enhance our financial performance and provide appropriate risk-adjusted returns. Food and beverage has been a focus and specifically the better-for-you, salty snack category.
“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,” added Hull.
Wind Point acquired Evans in April of 2016 in partnership with existing management and industry veteran José Luis Prado, who joined the Company as CEO. José Luis.
During Wind Point’s ownership period of just over three years, Evans’ revenue more than doubled and margins increased through a combination of organic growth, two complementary acquisitions and various operational initiatives.
Today, Evans accounts for more than half of all innovation growth in the industry and firmly stands as the premier global producer of pork rinds snacks.
José Luis Prado, CEO of Evans, said, “I want to thank Wind Point, our board of directors and my team for their partnership and dedication over the past three years.
“Together we have transformed Evans into a powerful salty snack platform that is well-positioned to continue delighting our customers, employees and all stakeholders.
“We are excited about our future and look forward to continuing our progress in partnership with Highlander Partners.”
Under Highlander’s ownership, José Luis will assume the Vice Chairman role.