USA-Snak King, a prominent manufacturer of private-label and branded snacks based in the United States, has successfully attracted an undisclosed investment from Falfurrias Management Partners, a private equity firm in Charlotte, North Carolina.
This investment is part of Falfurrias Capital Partners IV and V funds, although the specific size of the stake acquired in Snak King has not been disclosed.
Founded in 1978, Snak King has evolved from a small co-manufacturer of pork rinds to one of the country’s largest producers of salty snacks.
The company operates from its headquarters in the City of Industry, California, and employs over 780 individuals across its Los Angeles and Chicago facilities.
Snak King’s product offerings include various snacks such as tortilla chips, potato crisps, popcorn, and nut clusters.
The company also markets several well-known brands, including El Sabroso, The Whole Earth, Granny Goose, and Jensen’s Orchard.
Barry Levin, who has been with Snak King since 1979 and currently serves as CEO, emphasized the company’s transformation over the past four decades.
“The commitment of Snak King’s dedicated team and our unwavering customer-centric approach has allowed us to evolve from a small pork rind operation to a business that provides an extensive array of innovative snacking solutions to food brands, retailers, and consumers nationwide,” Levin stated.
He expressed optimism about the future, noting that “Falfurrias’ expertise will be precious as we collaborate to embark on Snak King’s next growth phase.”
The partnership will also see Falfurrias’ Ken Walker and Chip Johnson join Snak King’s board, along with notable industry figures such as Dave Katz, President and COO of Coca-Cola Consolidated, Bill Lovette, CEO of Sauer Brands, and Bill Ladd, a former executive at PepsiCo.
This diverse board is expected to bring a wealth of experience and insights to Snak King.
Falfurrias Management Partners has a history of investing in food-focused companies and has raised approximately US$2.2 billion across six funds.
Walker highlighted the strategic nature of this investment, stating, “Barry’s years of steady leadership have positioned Snak King to emerge as a major player in the industry.
‘’ Unlike other snack producers that provide limited and conventional product ranges, Snak King’s dedication to innovation and its capacity to adapt to the diverse and evolving preferences of consumers have established them as reliable partners for some of the nation’s leading food companies and retailers.”
The investment comes as the demand for innovative snack options is on the rise, and Falfurrias has identified private-label salty snacks as a key area of interest.
Chip Johnson remarked, “Snak King’s differentiated products and capabilities, industry leadership, and team-oriented culture stood out to us, and we’re excited to partner with Barry and the rest of the Snak King team to continue growing their business.”
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
