Wind Point Partners, a Chicago-based private equity firm, announced that it has acquired Evans Food Group and its subsidiaries.
Headquartered in Chicago, IL, founded in 1947 and acquired in 1985, Evans is a global leader of branded and private label pork rind snacks. The Company has a presence in the U.S. and Canada, as well as in 13 countries throughout Latin America and Asia.
Wind Point is partnering with Jose Luis Prado, who will join Evans as Chairman and CEO. Jose Luis has 30 years of experience in the global snacks industry with PepsiCo, most recently serving as President of Quaker Oats North America. During his tenure at PepsiCo, Prado was President and CEO of Grupo Gamesa-Quaker in Mexico. Before leading Grupo Gamesa-Quaker, Prado spearheaded sales, finance and general management assignments at PepsiCo in Latin America and Europe. Prado and Wind Point will work closely with Evans’ Co-Founder and Chairman, Alejandro Silva, who will serve on the Board of Directors.
Mark Burgett, a managing director at Wind Point, stated, “Wind Point’s partnership with Jose Luis – a top caliber global executive in the food industry – along with our proven track record and depth of experience in food investments, creates an excellent opportunity to drive continued growth at Evans. We are excited to work with Jose Luis and the Evans team to continue writing Evans’ and Wind Point Partners’ success stories.”
“I am delighted to join the Evans team and partner with Wind Point to take this business to the next level and create value for our customers,” said Prado. “I believe that Evans’ preferred products, advantaged manufacturing footprint, solid portfolio of national and regional brands, great team and partnership with Wind Point will enable us to pursue a wide array of domestic and international opportunities.”
According to Wind Point Partners, Alejandro Silva is the President of the Board.
As CEO of Evans Food, Silva became one of the most successful Latino business owners in the United States. Under his leadership, the company has become the largest private pork rind manufacturer in the world, with plants in Ohio, California, Texas and Mexico.
Leading a company that produces $90 million in revenue, Silva was baptized as El Rey del Chicharron (King of the Pork Rind). Negocios Now just learned about the transaction that just occurred in April, 2016.
Wind Point’s most recent food investments include Gehl Foods (acquired in March 2015), Shearer’s (sold to Ontario Teachers’ Pension Plan in January 2015), Hearthside Food Solution (sold to Goldman Sachs and Vestar Capital in June 2014), Rupari Foods (acquired in July 2011) and Nonni’s (acquired in February 2011).
Financing for the transaction was led by BMO Harris Bank N.A. and Antares Capital. DLA Piper represented Wind Point as legal counsel on the transaction
