AUSTIN, TEXAS — Private equity firm Peak Rock Capital continues to expand its presence in the food and beverage category with the acquisition of Pretzels, Inc. Financial terms of the transaction were not disclosed.

Headquartered in Bluffton, Ind., Pretzels supplies a range of salty snack products, including traditional, peanut butter-filled, flavored, seasonal and gluten-free pretzels, as well as extruded snack products. The company has manufacturing facilities in Bluffton and Plymouth, Ind. The Plymouth plant opened in 2017 and is responsible for peanut butter pretzel and bulk pretzel production.

“Our investment in Pretzels reinforces Peak Rock’s focus on investing in industry-leading food and beverage businesses that are positioned to capitalize on near-term growth opportunities,” said Robert M. Strauss, managing director of Peak Rock. “We are excited to partner with the company’s talented management team and the Huggins and Mann families to grow this snack platform through product innovation, investments in the company’s capabilities and add-on acquisitions.”

Related ReadingWilliam A. (Chip) Mann II, chief executive officer of Pretzels, said the company’s founding families have spent the past 40 years working to grow Pretzels into an industry-leading supplier of premium brands to key retailers.

“We are excited to partner with Peak Rock and draw on the firm’s demonstrated expertise in growing businesses through expanded capabilities and investments in product development, which will allow us to further serve our customers,” Mr. Mann said.

The acquisition of Pretzels comes just a few weeks after Peak Rock acquired Louisiana Fish Fry, a manufacturer of branded, Louisiana-inspired food products.

“This transaction represents our third platform investment in the food and beverage industry in the last two months, highlighting Peak Rock’s unique capabilities in this space,” said Anthony DiSimone, c.e.o. of Peak Rock. “We will continue to seek additional platform acquisitions within the industry as well as add-on acquisitions that we believe could benefit from our ability to drive rapid growth and improve performance.”

In addition to Pretzels and Louisiana Fish Fry, Peak Rock’s current investments in the food and beverage industry include TNT Crust, a manufacturer of pizza crusts; Sweet Harvest Foods, a maker and distributor of honey; Berner Food & Beverage, a manufacturer of dairy-based shelf-stable snacks and beverages; Diamond Crystal Brands, a producer and distributor of portion-control and single-serve food and beverage products; and Gold Coast Bakeries, a manufacturer of specialty and organic bread, buns and rolls.