J.R. Short Milling Company (J.R. Short) was family owned and is one of the largest domestic and leading global suppliers of extruded intermediates, or “snack pellets”, in the snack food industry. The Company has benefited from recent shifts in consumer preferences for more frequent snaking and a rise in demand for better-for-you snack products. The family owners believed it was time to transition the business to a partner that could help the Company through its next phase of growth. J.R. Short looked to identify a partner that would continue the Company’s legacy of innovation, sustain quality and customer service, help to drive continued growth and had significant food expertise to provide guidance and extend the Company’s leadership position.
Baker Tilly Capital worked with the family owners to develop a tailored sale process and positioning strategy for the business. An upfront analysis was performed to address potential buyer concerns prior to going to market. Baker Tilly Capital ran a robust sale process, with a focus on financial buyers and select strategic buyers that could meet the criteria the family owners had developed.
Through the process, Lake Pacific emerged as a buyer that had extensive experience investing in the food industry. Under the new ownership, the business will have a partner to help provide value-added strategic direction, accelerate organic growth and increase capacity to serve customers. The Company is situated to continue as an industry leader.
"We were looking for a partner that could help take J.R. Short through its next phase of growth. Lake Pacific will help provide value-added strategic direction, accelerate organic growth and increase capacity to serve customers."Tom Harris - former owner of J.R. Short
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.
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