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Insignia Capital acquires trail mix makers Snak Club, New Century Snacks

FBR Staff Writer Published 21 July 2016

Insignia Capital, a private equity firm focused on lower middle-market companies, has announced acquisition and merger of Los Angeles-based two family-owned food companies, Snak Club and New Century Snacks.

However, terms of the transaction were not disclosed.

Some of the founders of the two companies have participated in the transaction alongside Insignia.

The companies are involved in producing and distributing nuts, trail mixes and similar snacks.

Snak Club sells a range of branded products in airports, travel plazas and convenience stores.

On the other hand, New Century Snacks sells its products mainly on a private label basis in grocery, mass and food service channels.

Insignia CEO David Lowe said: "We have been actively targeting opportunities in the rapidly growing healthy snack sector and are excited to partner with two companies that are extremely well-positioned in this attractive industry.

"Snak Club and New Century Snacks have experienced tremendous growth over the past decade. Our investment strategy is to integrate these businesses, invest in operations, expand retail distribution and accelerate growth. These opportunities fit squarely within our investment focus." 

While Moelis & Company and M&A Capital acted as exclusive financial advisors in the transaction, and Buchalter Nemer served as legal counsel to the company.

Snak Club and New Century Snacks founder Hadi Morshed said: "We selected Insignia to be our partner based on their knowledge, experience and great success in the food sector.

“We expect their strategic and operational expertise to be immensely valuable as we seek to expand the businesses and provide customers with the highest quality snack products."