NEW YORK — CapVest Partners LLP has acquired Second Nature Brands from Palladium Equity Partners, LLC, a Certified B Corp and the oldest minority-owned private equity firm with more than $3 billion in assets. Financial terms of the transaction were not disclosed.
Headquartered in Madison Heights, Mich., Second Nature Brands is a platform company created in early 2021 through the combination of Kar’s Nuts (branded trail mix), Second Nature Snacks (non-GMO verified snacks and trail mixes) and Sanders Chocolates (small-batch, kettle-cooked sea salt caramels). The company last summer opened a new innovation center at its Sanders Factory in Clinton Township, Mich.
“Palladium has been an excellent partner to Second Nature Brands and was instrumental in driving our exciting growth over the past five years,” said Nick Nicolay, former chief executive officer of Second Nature Brands and chairman emeritus. “Palladium has been a steward for the business, helping to support our growth while always ensuring that the company maintains the heritage, culture and family traditions that have made our brands special.”
Vic Mehren, current CEO, added, “As we look forward to partnering with CapVest in our next phase of growth, we thank the Palladium team for their extraordinary partnership. With their support, and through the efforts of our great Second Nature Brands team members, Second Nature Brands has transformed into a leader within snacks and treats.”
Established in 1999, CapVest is a private equity firm making investments across Europe and North America. The firm’s portfolio includes FoodVest, Eight Fifty Food Group, Scandza and United Coffee.