Pretzels offers a wide range of salty snack products, which include traditional, peanut-butter-filled, flavoured, seasonal, and gluten-free pretzels, as well as extruded snack products. Peak rock is a US-based private equity firm.
Peak Rock Capital managing director Robert Strauss said: “Our investment in Pretzels reinforces Peak Rock’s focus on investing in industry-leading food and beverage businesses that are positioned to capitalise on near-term growth opportunities.
“We are excited to partner with the company’s talented management team and the Huggins and Mann families to grow this snack platform through product innovation, investments in the company’s capabilities and add-on acquisitions.”
Pretzels CEO Chip Mann said: “Over the past 40 years, the Huggins and Mann families have worked tirelessly to grow Pretzels into an industry-leading supplier serving premier brands and leading retailers.
“We are excited to partner with Peak Rock and draw on the firm’s demonstrated expertise in growing businesses through expanded capabilities and investments in product development, which will allow us to further serve our customers.”
The acquisition of Pretzels is reported to be Peak Rock’s ninth investment in the food and beverage industry.
Earlier this month, a Peak Rock affiliate acquired US-based food manufacturer and supplier Louisiana Fish Fry Products.
The company’s other investments in the food and beverage sector include TNT Crust, Sweet Harvest Foods, Berner Food & Beverage, Diamond Crystal Brands, and Gold Coast Bakeries.
