US-based Jobbers Meat Packing Co., which does business as WilMar, has been acquired by local private-equity firm Highview Capital for an undisclosed sum.
Highview intends to merge WilMar with its portfolio company Randall Foods.
California-based Wilmar, which specialises in the production of ground beef, serves customers throughout the US, including grocers, food distributors and foodservice providers.
Randall manufactures processed and value-added, case-ready meats, including prepared meals and marinated, ready-to-cook offerings. It was acquired by Highview in February 2021.
WilMar was founded in 1978 by Marty Evanson who said: “Our team is extremely excited about the merger and pleased that Randall Foods has the same business ethics and focus on putting our customers and employees first.”
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Following the close of the transaction, Evanson plans to retire. Going forward, WilMar’s current president and COO, Willie Thielen, who oversees the company’s day-to-day operations, will continue his role of president of the company.
“I’m confident that this combination, with Highview’s support, will propel us to reach new heights as an organisation, which will quickly establish itself as a major player in the meat space,” he said.
All other members of the WilMar management team will continue with the company in their current roles following the transaction.
Steve Russell, senior portfolio manager of Highview Capital, said: “The combination of WilMar and Randall is a clear strategic fit, establishing the combined company as a one-stop-shop for customers’ protein needs. The new entity will benefit from an enhanced product mix as well as increased operational capacity, which will allow the company to continue to expand and offer exceptional customer service.”
