May 31, 2017
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Tillamook Country Smoker, Inc. (“TCS”) in its acquisition by Insignia Capital Group.
Located in Bay City, Oregon, Tillamook Country Smoker is a multi-generation family business that has been a mainstay in the dried meat snacks market for close to a half-century. TCS manufactures and distributes real hardwood-smoked jerky, meat sticks, and other meat snack products through the convenience and grocery retail channels. It is widely regarded as a pioneer in the meat snacks industry, having invented both teriyaki meat snacks and steak cuts.
“While the protein snack category continues to experience brand proliferation, TCS distinguishes itself with the quality and simplicity of its product. The authenticity of the company’s brand attracted a high degree of interest from both financial and strategic buyers,” noted Bryan Jaffe, Managing Director in Cascadia Capital’s Consumer & Retail practice. “This transaction continues to highlight Cascadia’s ability to effectively position family owned consumer brands to achieve maximum value in a transaction regardless of the type of counterparty.”
“When we elected to embark on this process, we wanted someone who could work with our diverse ownership groups to advise on all strategic alternatives and source a deal that would value our 40-year legacy,” said Dick Crossley, Co-Founder of Tillamook Country Smoker. “That expertise had to be on the same level with our ability to produce great smoked meat snacks. Cascadia was our trusted advisor and delivered an excellent result for the shareholders, the company, and our community.”
“We are incredibly grateful for having had the opportunity to represent the company in this transaction,” adds Christian Schiller, Managing Director, Cascadia Capital. “With this deal begins a new chapter for the company and the brand; one that will create local jobs and ensure the company remains tied to the region for years to come.”
The acquisition represents another successful transaction for Cascadia in the Food & Beverage sector. Past transactions include the acquisitions of Bubbies Homemade Ice Cream, Seattle Cider & Two Beers Brewing and Dave’s Killer Bread.
For more information about this transaction, please contact the Cascadia Capital deal team:
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