Shearer's Foods to acquire Snack Alliance
March 1, 2010
by Eric Schroeder
BREWSTER, OHIO — Shearer’s Foods, Inc., a maker and distributor of branded, contract pack and private label seasoned snack foods, has agreed to acquire Snack Alliance, Inc. and its Canadian affiliate from Trimin Capital, a private equity firm. Financial terms of the transaction were not disclosed.
Founded in 2000, Snack Alliance is a national snack food company that makes store brand potato chips for Wal-Mart Stores, Inc. The company, which has manufacturing facilities in Hermiston, Ore., and Bristol, Va., also makes tortilla chips, cheese snacks, corn chips and popcorn. Its branded products are marketed under the riceworks, Thin & Crispy, Granny Goose, and Clover Club labels.
For Shearer’s, which is majority owned by New York-based Mistral Equity Partners, the acquisition represents an opportunity to expand its manufacturing and distribution of snacks. Founded in 1974, Shearer’s makes potato chips, pretzels, popcorn and other snacks that are distributed in New England, the Midwest and parts of Canada. The company has four manufacturing plants and five distribution facilities.
“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,” said Robert J. Shearer, chairman and chief executive officer of Shearer’s. “The product manufacturing capabilities and geographic diversity of the combined companies will enable us to service our customers even more effectively.”
John Frostad, c.e.o. of Snack Alliance, will join the Shearer’s senior management team as vice-chairman of Shearer’s and president – Canadian Operations.
“I am very excited about this opportunity and the potential of the Shearer’s – Snack Alliance combination,” Mr. Frostad said. “We have tremendous respect for the Shearer’s team and look forward to broadening the Shearer’s product innovation capabilities and providing increased distribution proximity for our customers.”