VERNON, Calif.–(BUSINESS WIRE)–Aug 2, 2022–
Highview Capital (“Highview”) today announced it has acquired Jobbers Meat Packing Co., doing business as WilMar (“WilMar”). WilMar, a protein processor specializing in ground beef solutions, will merge with Highview’s portfolio company, Randall Foods (“Randall”). The combination will create one of the leading protein providers in the US, with a complete suite of products, complementary operating cultures and a world class management team.
Randall Foods partners with grocery customers to provide all types of processed and value-added case-ready meats, including a variety of fresh prepared meals and marinated, ready-to-cook offerings. Since Highview acquired Randall in February 2021, the company has maintained its strong customer-centric culture while also scaling for further growth through expanding its exceptional management team and investing in capital expenditures.
WilMar is a leading processor and packager of premium meat products including ground beef, specialty and portion-controlled products. Founded in 1978, the company’s long-tenured customer relationships have fostered a flexible, responsive business model that enables it to process branded and private label ground beef for customers including grocery retailers, foodservice providers and wholesale distributors.
“I founded WilMar as a local meat provider to fill an unmet need in the market. I’m proud of our team’s hard work and dedication as we’ve grown into one of the region’s leading protein providers and become a primary partner of choice for customers looking for great service and quality in their ground beef,” said Marty Evanson, Wilmar’s Founder and CEO. “Our team is extremely excited about the merger and pleased that Randall Foods has the same business ethics and focus on putting our customers and employees first.” Following the close of the transaction, Marty Evanson plans to retire.
Going forward, WilMar’s current President & COO, Willie Thielen, who oversees the company’s day-to-day operations, will continue his role of President of WilMar. “With a complete product offering, shared values and a commitment to innovation, I’m confident that this combination, with Highview’s support, will propel us to reach new heights as an organization which will quickly establish itself as a major player in the meat space ,” said Thielen.
All other members of the WilMar management team will be continuing with the company in their current roles following the transaction. The combined state-of-the-art operations across Randall Foods’ and WilMar’s existing locations in Vernon, CA will continue to expand with an emphasis on employees, food safety and quality.
“The combination of WilMar and Randall is a clear strategic fit, establishing the combined company as a one-stop-shop for customers’ protein needs,” said Steve Russell, Senior Portfolio Manager of Highview Capital. “The new entity will benefit from an enhanced product mix as well as increased operational capacity, which will allow the company to continue to expand and offer exceptional customer service. Both WilMar and Randall share a relentless focus on customer excellence, quality and safety. We look forward to working with the company to continue growing the business.”
Greif & Co., an independent, Los Angeles-based investment bank represented WilMar in this transaction.
Jobbers Meat Packing dba Wilmar is a leading meat packing company serving customers throughout the US. The company provides beef processing, portioning, grinding, and exporting services. The Los Angeles-headquartered company’s customers include grocery retail, food distributors, and foodservice providers. Founded in 1978 by Marty Evanson, WilMar’s key executives include Willie Thielen, Jose “Pepe” Villasenor and Andrew Evanson. The company is BRC, Organic and Halal certified.
About Randall Foods
Randall Foods is a leading provider of poultry and meat solutions. Randall was built with two principles in mind: make a quality product and provide the best customer service possible. The Company’s management and employees are committed to these principles daily. Randall’s key executives include Mr. Scott Dineen, CEO; Alan Cutler, CFO; Glenn Weeks, CCO; Drew Krut, COO. The company’s products are all SQF Level II certified. For more information, visit www.randallfoods.com.
About Highview Capital, LLC
Highview Capital, LLC is an opportunistic private equity investment vehicle headquartered in Los Angeles, CA providing transformational equity. Highview leverages its creative vision and expertise to partner with management teams of leading middle-market businesses undergoing periods of transformation. For more information, visit www.highviewcapital.com.
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SOURCE: Highview Capital
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PUB: 08/02/2022 01:00 PM/DISC: 08/02/2022 01:02 PM