AUSTIN: Benestar Brands has acquired premium pork rinds producer 4505 Meats, in a deal size between $50 million to $100 million, Forbes reported.
Benestar Brands is a global producer of branded pork rinds, private-label/co-packed pork rinds, and pork pellets.
But the entire portfolio spans several delicious snacks: pork skins, cracklins, and tortilla chips—all reaching a vibrant and growing market.
4505 Meats was founded in 2009 by San Francisco-based butcher and chef Ryan Farr as a way to utilize discarded chicharrones, and its keto and paleo-certified portfolio has since expanded to include sausage snacks. The company was previously backed by Encore Consumer Capital, CircleUp, and other undisclosed investors.
CEO Erik Havlick will continue to lead the team upon the completion of the transaction. 4505 Meats is said to have generated approximately $40 million in revenue as of 2021.
Bruce Myers, President of Benestar Brands, commented, “We are very excited to be partnering with Ryan, Erik (Havlick, CEO of 4505) and the rest of the 4505 team. 4505 has quickly established itself as one of the most innovative and exciting brands in the salty snack industry.”
Erik Havlick, who will continue to lead 4505, added, “Teaming up with Benestar Brands and Highlander Partners represents an exciting new chapter for 4505 Meats, and is perfectly timed at an inflection point for our brand. We believe that joining Benestar Brands will enable 4505 to accelerate even faster as a leader in premium snacks.”
Jeff L. Hull, President and CEO of Highlander Partners, commented, “When we created Benestar, we established an active M&A platform in the salty snack space targeting brands with exceptional growth prospects, unique products and strong brand equity. 4505 fits these criteria perfectly and we are thrilled to welcome 4505 into Benestar.”
Jeff Partridge, current Executive Chairman of Benestar and a Partner at Highlander, added, “4505 created the premium pork rind category and established better-for-you standards that previously didn’t exist. This addition to our portfolio of brands couldn’t be a more appropriate fit.”