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PE-backed Evans acquires Gaytan Foods

The acquisition will enable the Chicago-based pork rind manufacturer to grow its product line and its West Coast presence.

 

Evans Food Group, a pork rind manufacturer backed by private equity firm Wind Point Partners, has acquired California-based Gaytan Foods for an undisclosed amount.

The acquisition of Gaytan, which also produces pork rinds, will “leverage both companies’ complementary product and brand portfolios and distribution networks,” the Chicago-based private equity firm said.

“From a strategic perspective, the acquisition of Gaytan will enhance our presence and manufacturing capability in the important West Coast market,” Wind Point Partners principal Joe Lawler said.

Based in Chicago, Evans Food Group has a presence in the US, Canada and 13 countries throughout Latin America and Asia. Wind Point acquired the company in April 2016 and seeks to “continue growing the Evans platform through a combination of organic growth and innovation as well as additional complementary acquisitions like Gaytan,” the firm said.

Wind Point has not disclosed financial details of either transaction. A representative for the firm was not immediately available for comment.

It is unclear whether the acquisition will result in the merged entities operating under one brand name or whether the target company will undergo management changes. However, Gaytan Foods’ president Ryan Gaytan said that he is “excited to remain actively involved in the continuing combined businesses.”

Founded in 1984, Wind Point has raised over $3 billion and acquired more than 100 platform companies and 250 bolt-on acquisitions, according to its website. Earlier this year, it closed its latest fund, Wind Point Partners VIII, on $985 million.

Evans represents the firm’s seventh platform investment in the food & beverage sector in the past decade. Other investments in the food sector include Gehl Foods; Rupari Foods and Nonni’s.