Shearer's Buys Wal-Mart's Salty Snack Supplier
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March 2, 2010
Shearer’s Foods Inc. has agreed to buy Snack Alliance Inc., the maker of store-brand potato chips for Wal-Mart Stores Inc., but term of the deal were not disclosed.
Shearer’s –– an Ohio distributor of private label snacks that is majority owned by New York City private equity firm Mistral Equity Partners –– said the acquisition will help it expand manufacturing and distribution of branded and private label snacks, according to a Bloomberg report.
Canadian private equity firm, Trimin Capital, owns Snack Alliance, along with members of the snack company’s management team.
John Frostad, CEO of Snack Alliance, will join Shearer’s as vice chairman and president of Canadian operations, according to a joint statement.
Vancouver-based Snack Alliance also makes the premium Riceworks brand of chips.
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