CapVest-controlled snacking group Second Nature Brands has acquired Tillamook Country Smoker from Insignia Capital Group and family shareholders for an undisclosed sum.
It marks Second Nature’s first investment in the fast-growing protein snacks category, adding to its wider portfolio of better-for-you brands, including Kar’s Nuts, Second Nature Snacks, Sahale Snacks, Sanders, Brownie Brittle and Voortman.
US-based Tillamook supplies clean label on-the-go meat snacks, such as zero-sugar jerky, beef sticks and sausages, made from all-natural ingredients at two factories in Oregon. The business employs about 480 staff and generates annual revenues of more than $175m.
Headquartered in Chicago, Second Nature has pursued a growth strategy centred on innovation, organic growth and strategic acquisitions since CapVest bought the group in 2022. Previous deals included the acquisition of Voortman in 2024, Sahale Snacks in 2023 and Brownie Brittle in 2022.
“Tillamook is a great addition to our growing portfolio of better-for-you snacks, known for quality natural ingredients, innovation and consistently outperforming its competitors on taste and customer satisfaction,” Second Nature CEO Adam Butler said.
“With consumer demand for genuinely clean on-the-go protein snacks rocketing, we see fantastic opportunities to leverage our joint expertise and capabilities to bring Tillamook to even more discerning consumers across the US.
“With a winning brand in a highly attractive growth category worth over $5bn, the Tillamook team has an impressive track record of driving innovation, growth and performance and we look forward to working with them to build on their successes to date and realise our significant ambitions for the Tillamook brand and the wider business.”
Tillamook CEO Shane Chambers added: “We are incredibly excited to be joining Second Nature Brands, who share our values and passion to deliver consumers only the best clean high quality on-the-go snacks and nutrition. We know the Tillamook brand and business will thrive under their stewardship and look forward to working with our new colleagues to take Tillamook to the next level.”
The transaction is expected to close in the coming months, subject to customary closing conditions.
Solomon Partners acted as financial advisor to Second Nature.
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