A Katten team led by Corporate partners Mark Solomon, Peter Bogdanow and Christopher Isaacs represented Highlander Partners (Highlander), a Dallas-based private investment firm, in the recent merger of its Chicago-based portfolio company Benestar Brands (Benestar) with Palmex S. de R.L. de C.V. (Palmex), a portfolio company of Wind Point Partners.
As spotlighted by PR Newswire, the merger creates a "powerhouse" entity in the North American snack industry. Benestar operates as a holding company for leading brands of snack products and manufactures pork rinds and tortilla chips for global markets, while Palmex is a top manufacturer of "better-for-you" and Hispanic snacks. The transaction includes a plan to separately spin out the Pretzilla division, manufacturer of pretzel bread and snacks, of Benestar as a standalone business entity to be held by Highlander and Pretzilla management.
Highlander President and CEO Jeff Hull stated, "Uniting Benestar and Palmex marks a significant milestone in our strategic expansion. We're thrilled about the endless possibilities this partnership opens up, including leveraging each company's unique capabilities to drive growth and market penetration."
Highlander partner and former Benestar Chairman Jeff Partridge added, "The snack market is rapidly evolving, and this merger is a game-changer. By combining Benestar's renowned brand portfolio with Palmex's state-of-the-art pellet extrusion capabilities, we're setting the stage for a new chapter of innovation and accelerated growth at the company."
"Highlander Partners Announces Palmex and Benestar Brands Merger And Pretzilla Spin-off," PR Newswire, December 11, 2023
