Mason Wells acquires Eddy Packing Co.
Jan. 4, 2012
by Meat&Poultry Staff
MILWAUKEE – Mason Wells announced on Jan. 4 that it has completed its acquisition of Eddy Packing Co., Inc. Mason Wells, management and other co-investors will own the business.
“Mason Wells is pleased to be partnering with Eddy Packing to continue building upon its success, while expanding its market reach and developing new products,” said Greg Myers, managing director of Mason Wells. “Eddy has a dedicated management team and workforce, and a culture devoted to serving its customers.”
Eddy Packing Co. is a broadly diversified beef, pork and poultry processor with headquarters in Yoakum, Texas. The company offers a complete line of fully cooked, marinated, cured, fresh and frozen meat products. The company owns one of the largest branded meat products portfolios in its region. It also offers private label products to national retailers and foodservice distributors.
Ronald Beeman has owned Eddy Packing Co. since 1998. Beeman will continue as an investor and member of the board of directors of the company. Scott McNair will be the company's chief executive officer. He is a food industry executive with broad experience, including executive positions at Schwan’s, Tyson and ConAgra.
“We are excited about our new partnership with Mason Wells and believe its experience in supporting growth-oriented businesses by bringing additional resources to the table will benefit Eddy’s customers, suppliers and employees, and enable us to grow on a national level,” Beeman said.
Co-investors include McNair, Akoya Capital, Hancock Capital Partners and the former owners of Eddy Packing Co. Senior financing for the transaction was provided by BMO Capital Markets, Zions Bank and Associated Bank. Mezzanine financing was provided by Hancock Capital Partners.