Highlander Partners Announces Palmex, Benestar Brands Merger
The transaction also includes a spin-off of the Pretzilla brand
Highlander Partners, L.P., a Dallas-based private investment firm, announced the merger of its portfolio company, Benestar Brands, with Palmex S. de R.L. de C.V., a portfolio company of Wind Point Partners. In this strategic move, Wind Point will become the majority shareholder of the combined business, while Highlander will retain a significant minority position.
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The merger creates a powerhouse in the North American salty snack industry, positioning the combined entity as one of the leading providers of Hispanic and better-for-you salty snacks across the continent. As part of this transformational transaction, the Pretzilla division of Benestar, renowned for its fresh pretzel bread and snack products, as well as its state-of-the-art manufacturing facilities in Milwaukee, will be separately spun out as a stand-alone business entity held by Highlander and Pretzilla's management, including President and CEO, Bruce Myers.
Based in Chicago, Benestar Brands operates as a holding company for leading brands of snack products, including Mac's, 4505, Pretzilla, Turkey Creek, Cazo de Oro, PORQ and Chicas Tortilla Chips. These brands encompass a variety of snack options, including pork rinds, tortilla chips, and other extruded snack products. Benestar Brands is a leading manufacturer of pork rinds and top-quality restaurant-style tortilla chips, serving both domestic and international markets, while Pretzilla has secured its place as the leader in the soft pretzel bread and snack categories. Benestar operates seven production facilities across North America.
Headquartered in Monterrey, Mexico, Palmex is a manufacturer of better-for-you and Hispanic snack pellets, an intermediate component in various salty snack products such as veggie sticks and straws, three-dimensional snacks, food carriers, wavy snacks, and other unique forms.
www.benestarbrands.com
www.palmex.com
www.highlander-partners.com
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