Encore Consumer Capital, a private equity firm that invests exclusively in leading consumer products companies, has completed the sale of Thanasi Foods, marketer of the Duke’s® and BIGS® snack brands, to Conagra Brands, one of North America’s leading branded food companies. Thanasi Foods will continue to be led by Justin Havlick and the existing leadership team of Thanasi Foods. Financial terms were not disclosed.
Robert Brown, managing director of Encore Consumer Capital, said, “Thanasi Foods’ founder and CEO Justin ‘Duke’ Havlick decided to bring on a strategic and financial partner, and we are honored that he chose Encore to help the company grow. We could not be more proud of what he and the team have accomplished in building two premier brands in protein-based snacking – Duke’s smoked meat snacks and BIGS seeds.”
“Encore provided strategic guidance to and unwavering confidence in our team to help us execute our vision,” said Justin Havlick, Founder of Thanasi Foods. Havlick added, “What started 13 years ago as a simple passion for fire roasting seeds and slow smoking meats, has grown into two terrific brands that are recognized in households across the U.S. This is an incredibly exciting time for our brands and our team, and we are looking forward to working with the Conagra Brands team on the next chapter in our journey to take Duke’s and BIGS to another level.” Havlick continued, “The Conagra Brands team values our brand beliefs and is committed to continuing to use quality ingredients and the craft methods that deliver the creativity and flavor our consumers and fans love today.”
Houlihan Lokey Capital, Inc. provided strategic and financial advisory services to Thanasi Foods. Brownstein Hyatt Farber Schreck, LLP acted as legal counsel to Thanasi Foods.