Yukon Supports CapVest Partners and Second Nature Brands with the Acquisition of Tillamook Country Smoker

MINNEAPOLIS--(BUSINESS WIRE)--Yukon Partners (“Yukon”), a provider of junior capital for middle market private equity transactions, is pleased to announce its mezzanine investment in Second Nature Brands (“SNB” or the “Company”), a leading creator of premium snacks and treats, to support the acquisition of Tillamook Country Smoker (“Tillamook”), a leader in protein rich clean label on-the-go meat snacks. SNB is a portfolio company of CapVest Partners (“CapVest”).

SNB is a leading creator of premium, better-for-you snacks and treats including Kar’s Nuts, Second Nature Snacks, Sahale Snacks, Sanders, Brownie Brittle, and Voortman. Tillamook is a leader in protein rich clean label on-the-go meat snacks such as zero-sugar jerky, beef sticks, and sausages made from simple all-natural ingredients. The transaction marks SNB’s first investment in the fast-growing protein snacks category.

Adam Butler, CEO of SNB, said: “Tillamook is a great addition to our growing portfolio of better-for-you snacks, known for quality natural ingredients, innovation, and consistently outperforming its competitors on taste and customer satisfaction. With consumer demand for genuinely clean on-the-go protein snacks rocketing, we see fantastic opportunities to leverage our joint expertise and capabilities to bring Tillamook to even more discerning consumers across the U.S. With a winning brand in a highly-attractive growth category worth over $5 billion, the Tillamook team has an impressive track record of driving innovation, growth, and performance, and we look forward to working with them to build on their successes to date and realize our significant ambitions for the Tillamook brand and the wider business.”

Shane Chambers, CEO of Tillamook, said: “We are incredibly excited to be joining SNB, who share our values and passion to deliver consumers only the best clean, high-quality, on-the-go snacks and nutrition. We know the Tillamook brand and business will thrive under their stewardship and look forward to working with our new colleagues to take Tillamook to the next level.”

“SNB and Tillamook combine to create an asset of scale with a portfolio of strong brands in attractive categories,” said Dave Sampair, a Partner at Yukon. “We are excited to be partnering with CapVest and look forward to supporting the Company in the next phase of growth.”

Winston & Strawn LLP provided legal counsel to Yukon.

About Second Nature Brands

Second Nature Brands is a manufacturer of snacks and treats sold through 7 brands. Products include clean ingredient trail mix (Kar’s Nuts, Second Nature Snacks, Sahale Snacks), specialty cookies (Voortman, Brownie Brittle), chocolate caramels (Sanders), and clean label, better-for-you meat sticks and jerky snacks (Tillamook Country Smoker).

About Yukon Partners

Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests up to $75 million per transaction and has managed over $2.6 billion in commitments across five funds. Yukon Partners has offices in Minneapolis, Boston, and West Palm Beach. For more information, please visit www.yukonpartners.com.

About CapVest Partners

CapVest Partners is a buyout investor with approximately $15 billion in assets under management and offices in New York, London, and Dublin. CapVest focuses on stable, resilient industries characterized by non-discretionary, predictable demand, with a core focus on the staple consumer goods, healthcare, and essential services sectors. Since 1999, CapVest has made 150+ investments across 20+ platform LBOs and 5 flagship funds. For more information, visit www.capvest.com.