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VMG Partners completes sale of Justin's LLC to Hormel Foods

FBR Staff Writer Published 27 May 2016

VMG Partners, a private equity firm that specializes in investing in and building branded consumer product companies in the lower middle market, has completed the sale of Justin's, maker of naturally delicious, high-quality nut butters, nut butter snacks, and organic peanut butter cups, to Hormel Foods.

Wayne Wu, Managing Director at VMG, said, "We enjoyed partnering with an iconic entrepreneur in Justin Gold, his amazing Justin's brand, and its talented management team led by Peter Burns. Justin's pioneered nut butter based snacking driven by a rabid consumer base for its products, in part through inspiration from its roots in Boulder, Colorado. We are grateful to the Boulder ecosystem for welcoming VMG with open arms into its community through our partnership with Justin's, and we look forward to our continued involvement there in the years to come."

Peter Burns, President and CEO of Justin's, commented on the collaborative and productive relationship with the VMG team, stating, "Working with VMG was a unique partnership because they completely understood our business and provided extremely helpful guidance, financing, and resources. Importantly, they also let us operate with the autonomy needed to rapidly grow our business while maintaining our entrepreneurial culture."

Justin Gold, Founder of Justin's, said, "I was attracted to VMG because they are motivated by doing what is right for our people and the brand and they have a track record of doing what they say. It's always good business when you focus on people and together we did everything we said we would do to build the company. They are great human beings and I will always be a part of their extended family."

Source: Company Press Release