VMG Partners Completes Sale of Snack Factory For $340 Million Sale of Pretzel Crisps® To Snyder's-Lance, Inc. Positions The Brand For Continued Growth
SAN FRANCISCO, Oct. 11, 2012 /PRNewswire/ -- VMG Partners, a private equity firm that specializes in investing in and building branded consumer product companies in the lower middle market, today announced that it has completed the sale of Snack Factory, parent company of market-leading Pretzel Crisps®, to Snyder's-Lance, Inc. (Nasdaq: LNCE) for $340 million.
Pretzel Crisps®, the world's first flat pretzel-shaped cracker, was launched by snack food pioneers Sara and Warren Wilson in 2004. VMG invested in the company in 2009 and, working in close partnership with the Wilsons and management, helped to build one of the fastest growing brands in the premium, natural snack business. Snack Factory products are distributed nationally primarily in the deli-bakery section of grocery retailers and in mass merchandisers and club stores today.
Kara Cissell-Roell, Managing Director of VMG Partners, said, "The Wilsons are amazing entrepreneurs and working with them and the talented management team led by the CEO Tom O'Rourke to further grow the company they founded was extremely rewarding. The Pretzel Crisps® brand revolutionized the premium cracker and snack category and in doing so, developed a truly passionate consumer following. Pretzel Crisps® has found the perfect home for continued growth and development as a key part of the Snyder's-Lance family of brands."
VMG Partners focuses on investing in marketing-driven, branded consumer product companies and its partners work closely with entrepreneurs and management teams of branded consumer product companies employing the firm's expertise and extensive resources to accelerate growth, drive brand awareness and create strategic value. VMG's total capital under management exceeds $700 million.
"The opportunity to help develop Pretzel Crisps® illustrates VMG's ability to work with creative individuals who have a vision for the companies they founded," said Michael L. Mauze, a Managing Director of VMG. "We utilized the full resources of VMG's toolbox to build the company in partnership with the Wilsons and it has resulted in a very successful investment for our investors."
About VMG Partners
VMG Partners is an investor in branded consumer products companies in the lower middle market. Since its inception in 2005, VMG has participated meaningfully in the better-for-you food and beverage sector with investments in Snack Factory Pretzel Crisps®, KIND Healthy Snacks, Pirate Brands Pirate's Booty, Mighty Leaf Tea, Sequel Naturals Vega® and Kernel Season's. Other investments within VMG's portfolio include Waggin' Train Pet Treats, sold to Nestle Purina PetCare Company in 2010, Natural Balance Pet Food, Speck Products, Timbuk2, SkinMedica and PLV Studio. VMG's defined set of target industries includes food, beverage, wellness, pet and household products, personal care and lifestyle brands. VMG Partners is headquartered in San Francisco and in Los Angeles. For more information about the fund please visit www.vmgpartners.com.
Chris Tofalli Public Relations, LLC
SOURCE VMG Partners