Capstone Partners advised Uncle John’s Pride, a family-owned producer of branded premium meats, on its recapitalization with Promise Holdings, a consumer-focused private holding company, and specialty finance firms Star Mountain Capital and Maranon Capital. Terms of the deal were not disclosed.
Established in 1974, Uncle John’s Pride is a family-owned producer of premium smoked sausages and meats. Offering a variety of fresh and smoked sausages, bacon, and quail through both retail and foodservice channels, the company features brand-named products under the banners of Uncle John’s Pride, Bean Brothers, Garcia Brand, Peppino Foods, and Realtree. With distribution through national grocery retailers and foodservice distributors including Walmart, Publix, Winn-Dixie, Sysco, US Foods, and Performance Food Group, the company has positioned itself as a premium brand with a strong, reputable foothold in the Southeastern region of the United States.
With the investment, Uncle John’s Pride will have the capital and resources necessary to expand beyond its established regional platform and pursue significant growth via additional private labeling.
Scott McBride, Partner, Uncle John’s Pride, said
“Brian Boyle and his team at Capstone did a great job drawing in multiple potential buyers and he helped us see the value of staying in the NewCo for a second bite of the apple years down the road. Along the way, Brian was there to offer advice and direction in the process, and it was very comforting to know that we were dealing with a professional M&A firm that had been through this process many times. The bottom line is that we completed our deal at a fair price and with a group that we believe will be good partners for many years to come, and we couldn’t have done it without the professional help of Capstone and their team. Thank you!”
Capstone Managing Director Brian Boyle commented
“This transaction allowed the UJP shareholders to monetize their initial investment in the company, with a substantial return, while still maintaining a meaningful equity stake. Going forward, the company is forecasting rapid growth fueled by powerful consumer trends towards high-protein diets and increased at-home dining trends.”