Insignia Capital Group acquires Snak Club and New Century Snacks

US-based private equity firm Insignia Capital Group has acquired and merged two family owned companies, Snak Club and New Century Snacks.

The terms of the transaction have not been revealed.

The two companies being acquired produce nuts, trail mixes and similar snacks.

Insignia CEO David Lowe said: "We have been actively targeting opportunities in the rapidly growing healthy snack sector and are excited to partner with two companies that are extremely well-positioned in this attractive industry.

"Snak Club and New Century Snacks have experienced tremendous growth over the past decade. Our investment strategy is to integrate these businesses, invest in operations, expand retail distribution and accelerate growth. These opportunities fit squarely within our investment focus."

Snak Club sells assorted branded products in airports, travel plazas and convenience stores, while New Century Snacks sells its products primarily on a private label basis in grocery, mass and food service channels.

Snak Club and New Century Snacks founder Hadi Morshed said: "We are excited to be taking this next step forward in partnership with Insignia.

"We selected Insignia to be our partner based on their knowledge, experience and great success in the food sector. We expect their strategic and operational expertise to be immensely valuable as we seek to expand the businesses and provide customers with the highest quality snack products."

Moelis & Company and M&A Capital served as exclusive financial advisors, and Buchalter Nemer served as legal counsel to Snak Club and New Century Snacks. Kirkland & Ellis LLP served as legal counsel to Insignia.