Snak King, a US-based private-label and branded snacks manufacturer, has attracted an undisclosed investment from Falfurrias Management Partners.
Private-equity firm Falfurrias, headquartered in Charlotte, North Carolina, said the investment has been channelled through the Falfurrias Capital Partners IV and V funds, without revealing the size of the stake taken in Snak King.
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Based in the City of Industry, California, Snak King is a co-manufacturer and own-label business supplying tortilla chips, potato crisps, popcorn and nut clusters. The company, founded in 1978, also has a branded portfolio with the likes of El Sabroso, The Whole Earth, Granny Goose and Jensen’s Orchard.
Led by CEO Barry Levin, Snak King employs more than 780 people across facilities in Los Angeles and Chicago.
Levin will remain with the business and will be joined on the board by Falfurrias Management’s Ken Walker and Chip Johnson, along with Dave Katz, the president and COO of Coca-Cola Consolidated, Bill Lovette, the CEO of Sauer Brands and Bill Ladd, a former executive and vice president of supply chain transformation at PepsiCo.
“Snak King’s dedicated team and our steadfast customer-first mentality have enabled us to transform over the past forty-six years from a small-scale pork rind business to an operation that delivers a broad range of innovative snacking options to food brands, retailers, and customers around the country,” Levin said in a statement.
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By GlobalData“Falfurrias’ experience will be enormously beneficial as we partner to achieve Snak King’s next phase of growth.”
Spices and flavouring business Sauer Brands is also among Falfurrias’ investment portfolio, along with honey maker Local Hive and snacks company Carolina Foods. The private-equity firm has raised $2.2bn across six funds.
Walker said: “Barry’s decades of consistent leadership have primed Snak King to become a dominant industry player.
“While other snack manufacturers offer limited and traditional product assortments, Snak King’s commitment to innovation and ability to meet a wide range of ever-changing consumer preferences have made them trusted partners to some of the nation’s leading food companies and retailers.”
