The acquisition of the third-generation, family-owned meat snacks entity was finalised this week by California-based investment firm Insignia, which boasts a number of snack brands in its portfolio.
Tillamook Country Smoker makes multi-species hardwood-smoked jerky, meat sticks and other meat snacks, sold to convenience and grocery stores.
David Lowe, CEO of Insignia, said he planned to make “significant investments” in Tillamook Country Smoker (TCS) to drive value for all business stakeholders.
‘Expands our footprint’
“TCS has an outstanding track record of growth and a selection of high-quality, clean-label product and we are very excited to welcome the company into our portfolio,” said Lowe.
“This investment expands Insignia’s footprint in the food sector into the large – and growing – meat snacks market. We plan to leverage our food investment experience and synergies with our other salty snack investments, Truco Enterprises and Century Snacks, to significantly accelerate growth.”
Dick Crossley founded Tillamook Country Smoker in 1975 alongside his father, Art, and spoke favourably about the Insignia takeover.
“We are thrilled to partner with the Insignia team in this exciting next phase of the company’s growth. We chose Insignia as our partner based on their demonstrated operational and strategic expertise as well as their shared vision for our brand and our community.”
Demand for meat snacks in the US is rising and big companies have started to swoop on niche meat firms.
Earlier this year the US branded food giant Conagra acquired meat snacks and seed producer Thanasi Foods for an undisclosed sum.
But it is not just US companies that have noticed the growth potential. Ireland-based food company Kerry Group said its 2017 Q1 sales growth was driven by rising demand for healthy meat snacks, among other things.