Shearer’s Foods has acquired Snack Alliance, a branded, contract-pack and private-label salty snack manufacturer.
Snack Alliance makes the Riceworks brand and produces salty snacks for various retail customers, including Wal-Mart. The group has operations in the US and Canada.
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“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 Shearer, chairman and CEO of Shearer’s. “The product manufacturing capabilities and geographic diversity of the combined companies will enable us to service our customers even more effectively.”
Snack Alliance CEO John Frostad, who will join the Shearer’s vice chairman and president – Canadian operations, said that Snack Alliance will benefit from Shearer’s product innovation and distribution capabilities.
Shearer’s is majority-owned by Mistral Equity Partners, a private-equity firm focused on the consumer, retail and consumer-focused media sectors.
Snack Alliance is owned by Trimin Capital, a Canadian private-equity firm, and members of the company’s management team. The financial details of the deal, which is pending regulatory approval, have not been released.
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