Second Nature Brands completes acquisition of Tillamook Country Smoker

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Second Nature Brands (SNB), a portfolio company of CapVest Partners, has completed its previously announced acquisition of meat snack producer Tillamook Country Smoker from Insignia Capital Group.

Founded in 1975 and headquartered in Bay City, Oregon, Tillamook Country Smoker produces protein-rich meat snacks including jerky, meat sticks and smoked sausages. Its products are sold nationwide through grocery, club, mass, convenience and e-commerce channels.

Insignia Capital Group invested in Tillamook Country Smoker in 2017. During its ownership, the company more than tripled revenue and EBITDA as it expanded from a predominantly Pacific Northwest regional brand into a nationwide meat snack producer.

The investment period saw Tillamook modernise its manufacturing operations, increasing production capacity and efficiency, while expanding distribution across major retail channels.

The company also increased its focus on product innovation, including the launch of its Zero Sugar platform, which Insignia described as the market leader in one of the fastest-growing segments of the snacking category.

David Lowe, managing partner at Insignia Capital Group, said: “It has been a privilege to partner with the Tillamook Country Smoker team and the entire Tillamook community. We are proud of everything the team accomplished together and look forward to watching what they accomplish with Second Nature Brands in their next phase of growth.”

Tillamook operates two manufacturing facilities in Oregon and focuses on meat snacks made with simple, all-natural ingredients.

The acquisition expands Second Nature Brands' portfolio of better-for-you snacks and treats, which includes Kar's Nuts, Sahale Snacks, Sanders, Brownie Brittle, Voortman and Second Nature Snacks.

Headquartered in Chicago, Second Nature Brands is pursuing growth through innovation, organic expansion and strategic acquisitions. The company is backed by private equity firm CapVest Partners.

Financial terms of the transaction were not disclosed.

Houlihan Lokey acted as exclusive financial advisor and Kirkland & Ellis LLP provided legal counsel to Tillamook Country Smoker and Insignia Capital Group. Solomon Partners advised Second Nature Brands, with Willkie Farr & Gallagher LLP serving as its legal counsel.

Insignia Capital Group said it will continue to seek investment opportunities in the consumer and food sectors following the sale.