AUA Private Equity Partners has acquired Weaver Holdings, a fourth-generation family-owned manufacturer of popcorn and snacking products. Financial terms of the transaction were not disclosed.
Weaver Popcorn Manufacturing is an independent manufacturer of popcorn products in the U.S., headquartered in Indianapolis, Indiana. Alongside its investment in Weaver Popcorn Manufacturing, AUA Private Equity will bring the firm’s experience in professionalizing and improving family-owned food manufacturing businesses to help expand on the Weaver family’s assets and employee base.
“Our partnership with the Weaver family and Weaver Popcorn Manufacturing is emblematic of what AUA Private Equity does best – partnering with family-owned businesses to take them to the next level,” said Andy Unanue, managing partner of AUA Private Equity.
“We will proactively focus on operational upside by supporting the team with capital and resources while preserving Weaver Popcorn Manufacturing’s entrepreneurial and solution-oriented culture. We are eager to continue building upon the company’s ongoing success.”
The AUA Private Equity team was led by Partner David Benyaminy, VP Charlie DeVries, Senior Associate Nico Pflaum and Associate Luke Phillips. McDermott Will & Emery served as legal advisor for AUA Private Equity Partners and Proterra Investment Partners provided the debt financing.
Grant Thornton and Boston Consulting Group also served as commercial and financial advisors for AUA Private Equity. Taft Stettinius & Hollister served as legal advisor for Weaver. Ernst & Young Capital Advisors served as the financial advisor to Weaver Popcorn Manufacturing in connection with the transaction.
“We see tremendous opportunity to help Weaver Popcorn Manufacturing expand, and the company possesses all of the necessary attributes to accelerate its success: an excellent management team, an engaged and aligned family-owner, and a flexible capital structure,” Benyaminy said. “Our plan is to make this a best-in-class partner for customers and all their snacking needs.”
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