CK Snacks has come under the ownership of Nexus Capital, which has acquired the US private label and co-manufacturer from Kilroy Partners.
Los Angeles-based Nexus, an asset-management firm, said it had teamed up with CK Snacks’ CEO Jamie Colbourne and the company’s founders to buy the business. Financial terms were not disclosed.
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Located in Grand Rapids, Michigan, CK Snacks – otherwise known as Cheeze Kurls – was set up in 1964 and produces fried, baked and extruded snacks such as popcorn, pork rinds and puffed cheese varieties.
It supplies own-label to retailers in North America and serves as a contractor manufacturer for branded customers.
Daniel Flesh, a partner at Nexus, said in a statement: “CK aligns with our extensive experience investing in food and beverage, and we look forward to supporting the company in its next phase of growth.”
Along with Colbourne, who has been an adviser to Nexus for “many years”, the rest of the management team will remain with CK Snacks.
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By GlobalDataColbourne added: “CK has built a leading position in the snack-food industry due to our ability to consistently produce innovative and high-quality products for our customers. I look forward to working closely with the Nexus team to facilitate the continued success and expansion of CK Snacks.”
Kilroy Partners in Florida purchased CK Snacks in 2020.
The private investment firm’s managing partner, Mark Hughes, said: “We are grateful for the collective efforts of Jamie and the entire CK Snacks team in making this such a successful investment and wish Nexus the best of luck during the company’s next stage of growth.”
Nexus Capital’s other investments in the food space include TruRoots and Natural Balance, transactions completed in 2022 and 2021, respectively, according to its website.
The TruRoots packaged rice, lentils and quinoa business was acquired from US food group JM Smucker for $110m in a deal that also included the RW Knudsen juices brand and assets.
In 2023, Nexus Capital merged the pet-food company Natural Balance with peer company Canidae, joining with the latter’s majority investment partner L Catterton in the transaction.
