Palmex and Benestar Brands Merge; Wind Point Majority, Highlander Retains Minority; Pretzilla Spun Out
December 11, 2023
Wind Point Partners’ portfolio company Palmex has merged with Highlander Partners’ portfolio company Benestar Brands to form a combined North American salty-snack platform, with Wind Point as the majority shareholder and Highlander retaining a significant minority stake. Pretzilla, Benestar’s pretzel bread business, was spun out as a standalone entity owned by Highlander and Pretzilla management; the combined business will be led by Jose Luis Prado and will operate eight facilities with more than 1,400 employees.
- Targets
- Benestar Brands, Palmex S. de R.L. de C.V.
- Platforms
- Palmex S. de R.L. de C.V.
- Industry
- Food & Beverage
- Location
- Illinois, United States
- Transaction Type
- Addon
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