Wind Point Partners has acquired Evans Food Group and its subsidiaries. Financial terms weren’t announced. Chicago-based Evans Food produces branded and private label pork rind snacks. BMO Harris Bank N.A. and Antares Capital provided financing. DLA Piper represented WindPoint as legal counsel on the transaction.
Chicago, IL, April 11, 2016 – Wind Point Partners, a Chicago-based private equity firm, announced today that it has acquired Evans Food Group and its subsidiaries. Headquartered in Chicago, IL, founded in 1947 and acquired in 1985, Evans is a global leader of branded and private label pork rind snacks. The Company has a presence in the U.S. and Canada, as well as in 13 countries throughout Latin America and Asia.
Wind Point is partnering with Jose Luis Prado, who will join Evans as Chairman and CEO. Jose Luis has 30 years of experience in the global snacks industry with PepsiCo, most recently serving as President of Quaker Oats North America. During his tenure at PepsiCo, Prado was President and CEO of Grupo Gamesa-Quaker in Mexico. Before leading Grupo Gamesa-Quaker, Prado spearheaded sales, finance and general management assignments at PepsiCo in Latin America and Europe. Prado and Wind Point will work closely with Evans’ Co-Founder and Chairman, Alejandro Silva, who will serve on the Board of Directors.
Mark Burgett, a managing director at Wind Point, stated, “WindPoint’s partnership with Jose Luis – a top caliber global executivein the food industry – along with our proven track record anddepth of experience in food investments, creates an excellentopportunity to drive continued growth at Evans. We are excitedto work with Jose Luis and the Evans team to continue writingEvans’ and Wind Point Partners’ success stories.”
“I am delighted to join the Evans team and partner with WindPoint to take this business to the next level and create value forour customers,” said Prado. “I believe that Evans’ preferredproducts, advantaged manufacturing footprint, solid portfolio ofnational and regional brands, great team and partnership withWind Point will enable us to pursue a wide array of domesticand international opportunities.”
Wind Point’s most recent food investments include Gehl Foods(acquired in March 2015), Shearer’s (sold to Ontario Teachers’Pension Plan in January 2015), Hearthside Food Solution (sold toGoldman Sachs and Vestar Capital in June 2014), Rupari Foods(acquired in July 2011) and Nonni’s (acquired in February 2011).
Financing for the transaction was led by BMO Harris BankN.A. and Antares Capital. DLA Piper represented WindPoint as legal counsel on the transaction.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that has raised $3 billion in commitments since 1984. Wind Point focuses on partnering with top caliber management teams to acquire middle market businesses where it can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.
About Evans Food
Evans Food Group Ltd. is a global producer of branded and private label finished pork rinds and pork rind pellets. Founded in 1947 and acquired in 1985, the Company is headquartered in Chicago. Evans currently operates five production facilities (Chicago, IL; Arlington, TX; Portsmouth, OH; Ontario, CA; and Saltillo, Mexico). Additional information about Evans can be found at www.evansfood.com.