Wind Point Partners sold pork rinds manufacturer Evans Food Group Ltd. to Dallas-based middle-market private investment firm Highlander Partners LP.
The Evans operations will continue under Highlander's newly formed food platform, Benestar Brands.
Carl Lee Jr. will become Benestar's president and CEO and lead the company and the Evans operations on a go-forward basis. Lee previously worked as president and CEO of Snyder's-Lance Inc. before it was sold to Campbell Soup Co. for more than $6 billion in 2018.
Highlander Managing Director Jeff Partridge will serve as Benestar's chairman. Former Evans Chairman and CEO Jose Prado will join Benestar as vice chairman.
William Blair acted as Evans' exclusive financial adviser. Antares provided senior financing, while Norwest Mezzanine Partners provided mezzanine debt and equity in support of the deal.
In May, WSJ Pro reported that Evans was approaching the end of an auction process.