November 6, 2017
Evans Food Group Acquires Gaytan Foods
Evans expands its presence by acquiring west coast pork rinds manufacturer
Chicago, IL, November 6, 2017
– Wind Point Partners and portfolio company Evans Food Group (“Evans”), a
leading global producer of branded and private label pork rinds, are pleased to
announce today that Evans has acquired Gaytan Foods Inc. (“Gaytan”). Gaytan, founded in 1935 and headquartered in
City of Industry, CA, is a leading producer of pork rinds on the west
coast.
The combination of Evans and Gaytan creates the opportunity to leverage
both companies’ complementary product and brand portfolios and distribution
networks.
Jose Luis Prado, Evans Chairman and CEO, expressed, “I am delighted to welcome Ryan Gaytan, a third-generation owner, and the entire Gaytan team into the Evans family. Both companies share a passion for delighting our consumers with great products and being great partners to our customers for many decades. In this new phase we are confident that together we will be able to accelerate growth and create value for all our stakeholders."
The acquisition of Gayton continues Wind Point’s long history of partnering and working with family-held businesses and marks Evans first acquisition as the company seeks to expand and better serve its customers.
"We are excited about the combination of Evans and Gaytan. Both companies share similar values and cultures. From a strategic perspective, the acquisition of Gaytan will enhance our presence and manufacturing capability in the important west coast market."
Joe Lawler, Principal
Joe Lawler, Principal with Wind Point Partners, stated, “We are excited
about the combination of Evans and Gaytan.
Both companies share similar values and cultures. From a strategic perspective, the acquisition
of Gaytan will enhance our presence and manufacturing capability in the
important west coast market. We are also
excited to expand our product portfolio and provide our customers with even
more product solutions.”
Ryan Gaytan, President of Gaytan Foods, said, “The merging of Gaytan
and Evans, with the support of Wind Point, will create solid operational,
distribution, and scale efficiencies that will fund our growth. Leveraging
Evans’ national brands and investment in technology with Gaytan’s expertise in
the Hispanic segment will be a win-win for our customers and team members. I am
excited to remain actively involved in the continuing combined businesses and I
am as committed as ever to ensuring the success of all our stakeholders.”
Wind Point Partners acquired Evans in April of 2016 in partnership with
Jose Luis Prado, a more than 30-year veteran of the global snacks industry. In
cooperation with Jose Luis and management of Evans and Gaytan, Wind Point will
seek to continue growing the Evans platform through a combination of organic
growth and innovation as well as additional complementary acquisitions like
Gaytan.
The Wind Point investment team has considerable experience in the
consumer products and food space, an area of focus for the firm since its
founding in 1984, with Evans representing the firm’s 7th platform investment in
the food space over the last decade.
BMO Harris Bank N.A. and Antares Capital led financing for the
transaction. DLA Piper served as legal counsel to Evans.