US salty snack manufacturer CK Snacks has acquired local peer Axium Foods for an undisclosed sum.
Michigan-based CK Snacks, part of asset manager Nexus Capital’s stable, said the deal for Axium strengthens its product portfolio and positions both companies for sustained growth in the snack-food market.
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Both companies are supplier of private-label products.
CK Snacks, otherwise known as Cheeze Kurls, was founded in 1964 and makes extruded, fried, and baked products, as well as popcorn and party mixes. Its customers are major retailers and grocery chains across North America. The group also serves as a contract manufacturer for branded customers.
Illinois-based Axium, founded in 1960, specialises in tortilla chips, corn chips, extruded snacks, and pellet snacks.
Jamie Colbourne, CEO of CK Snacks, said: “We are thrilled to welcome Axium Foods into the CK Snacks family. Axium Foods’ expertise in tortilla chip and snack production will complement our existing product lines, enabling us to offer an even broader range of snacks.
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By GlobalData“This acquisition marks a pivotal moment in our growth strategy and we look forward to working together to deliver innovative, high-quality products to our customers.”
The McCleary family, the founders of Axium Foods, said in a joint statement: “We are excited to see Axium Foods continue alongside another long-standing, family-founded business. CK Snacks shares our dedication to quality, innovation and customer service and we are confident the combined company will build on our legacy.”
Both companies will continue to operate from their respective locations.
CK Snacks joined the Nexus Capital stable in June after the asset manager acquired it from Kilroy Partners.
Los Angeles-based Nexus said it had teamed up with CEO Colbourne and the company’s founders to buy the business. Financial terms were not disclosed.
Florida’s Kilroy Partners had purchased CK Snacks in 2020.
