Highlander Partners acquires pork rinds producer Evans Food

US-based middle-market private investment firm Highlander Partners, through its newly-formed food platform Benestar Brands, has acquired pork rinds producer Evans Food Group from Wind Point Partners.

Financial details of the deal have not been divulged.

In April 2016, Wind Point acquired Evans, which is engaged in the production of branded, co-packed and private label pork rinds. The company operates five manufacturing operations in the US and one in Saltillo, Mexico.

Evans offers its products under various brands, including Mac’s, Turkey Creek, Don Rudy, Cazo de Oro and Domingo’s.

Highlander Partners president and CEO Jeff Hull said: “Highlander has experienced rapid growth over the past five years, with assets under management growing to over $2bn. 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.”

Pork rinds are one of the fastest-growing snack items, supported by the emerging interest of consumers to add these products to their diets as a nutritional option.

Through its newly-formed food platform, Benestar, Evans intends to capitalise on the growing and better-for-you snack category.

Highlander has appointed Carl Lee as Benestar president and CEO to lead the company and Evans operations. Lee previously served as president and CEO of Snyder’s-Lance.

Lee said: “I am extremely excited to have this opportunity to partner with Highlander and the Evans team. 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.”