Second Investment in Astara Capital Partners Fund I, L.P.
NEW YORK, January 18th, 2023 – Astara Capital Partners, LLC (“Astara”), a middle-market private equity firm, announced today that an affiliate of Astara Capital Fund I, L.P. has made a majority investment in Wyandot Snacks (“Wyandot” or the “Company”). Founded in 1936 and headquartered in Marion, Ohio, Wyandot is a premier contract manufacturer of high-quality snack foods, cereals, and better-for-you offerings and is a trusted partner to many leading and emerging brands and private label customers.
Wyandot Chief Executive Officer, Dewey Armstrong, will continue to lead the Company. “We are thrilled to partner with Astara on this exciting new chapter for Wyandot,” said Mr. Armstrong. “Astara’s investment will allow Wyandot to better serve our customers and accelerate our growth – while upholding the legacy and core values instilled by the Brown family that have made Wyandot a success since its founding over 85 years ago.”
“Wyandot is a leading manufacturer of snack foods with long-standing customer relationships and a strong reputation for quality, customer service and product innovation,” said Lindsey Tannenbaum, Partner of Astara. “As a result of Astara’s investment, Wyandot will benefit from being debt-free and having access to significant strategic, operational, and financial resources of Astara.”
“This is the second investment in our fund and another example of why companies choose to partner with Astara. We have a track record of working collaboratively with family-owned businesses, their management teams, and employees to build upon their existing capabilities and help them achieve their full potential,” said Michael Ranson, Managing Partner of Astara. “We acknowledge the trust that the Brown family, who have owned the Company for over 85 years, has placed in us and we look forward to a terrific partnership with them.”
Fredrikson & Byron, P.A. served as legal advisor and Cascadia Capital LLC as financial advisor to Astara. The transaction terms were not disclosed.
About Astara Capital Partners
Astara Capital Partners is an integrated team of investors and operators investing in the middle market. The firm brings capital, strategic, and operational resources to its investments to build sustainable value and position them for long-term success. Astara focuses on a variety of sectors where it has deep experience, including packaging and converting, food, building products, forest products, and industrial manufacturing, distribution, and services. More information about Astara can be found at www.astaracapital.com.
Founded in 1936 and headquartered in Marion, Ohio, Wyandot is a premier contract manufacturer of high-quality snack foods, cereals, and better-for-you offerings and is a trusted partner to many leading and emerging brands and private label customers.