January 16, 2012, Chicago, IL – Akoya Capital Partners, LLC acquires Eddy Packing Company, Inc. Akoya Capital Partners, LLC announced today that it has partnered with Mason Wells to acquire Eddy Packing Company, LLC. The terms of the deal were not disclosed. Headquartered in Yoakum, Texas, Eddy is a broadly diversified, premier processor of beef, pork and poultry products. The company offers a complete line of fully cooked, marinated, cured, fresh and frozen meat products, such as smoked sausage, fajita meat, pulled beef/pork/chicken, ribs, pork chops/loins, chicken breast, brisket and other meat products. In addition to owning one of the largest branded meat portfolios in its region, Eddy offers private label products to major retailers and foodservice distributors nationally.
Ronald Beeman has owned Eddy since 1998 and will continue as an investor and member of the board of directors of the company. Lou Nieto, Akoya’s Consumer Food Sector Leader, will join the company as a Board Member and Scott McNair, an Akoya-backed CEO, will join the company as CEO.
“We are excited about acquiring a well-regarded market leader such as Eddy Packing Company and look forward to writing a new chapter of growth in the Company’s proud history under Lou and Scott’s leadership,” said Max DeZara, Managing Partner of Akoya. Eddy will be Akoya’s first platform acquisition in the Consumer Food Sector under Nieto’s leadership.
The Eddy acquisition is consistent with Akoya’s investment strategy of combining world-class executives, well positioned companies, and well-developed, value creation strategies to create significant value for management and investors. “What differentiates Akoya is our deep domain expertise and our sector-led approach that delivers proprietary deal flow and exceptional leadership teams in both the Consumer Food and Specialty Chemicals sector, said DeZara.
ABOUT AKOYA CAPITAL LLC
Akoya is a private investment firm that sponsors transactions and invests in lower and middle market businesses with attractive growth prospects. At the core of our investment strategy is partnership with proven and talented operating executives across various industries as well as executing very specific strategies in Consumer Foods and Specialty Chemicals.
The principals of Akoya have collectively been involved in over 35 acquisitions, divestitures, mergers, direct investments, capital raisings, and restructurings across a broad range of industries. Given our deep expertise and robust network, we are actively pursuing opportunities in Consumer Foods and Specialty Chemicals as well as other basic industries.