April 11, 2016
Wind Point Partners Acquires Evans Food Group
Wind Point invests in leading salty snack manufacturer
Chicago, IL, April 11, 2016 – Wind Point Partners, a Chicago-based private equity firm, announced today 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.
"We are excited to work with Jose Luis and the Evans team to continue writing Evans’ and Wind Point Partners’ success stories."
- Mark Burgett, Managing Director
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.”
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.