SOUTHLAKE, Texas and YOAKUM, Texas – February 11, 2019 – Insight Equity Holdings LLC (“Insight Equity”), a middle-market private equity firm with a 17-year track record, is pleased to announce the acquisition of Eddy Packing Company (“Eddy”), a leading value-added processor of smoked, cooked, and fresh pork, beef, and poultry products that are available in refrigerated and frozen formats. The Company serves a balanced mix of foodservice, contract packing, and retail customers and is based in Yoakum, Texas.
“Eddy’s broad product offering and deep experience with various processing techniques provides a strong foundation for continued growth. Additionally, the Company’s extensive product development capabilities provide customers in multiple sales channels with a comprehensive option for fulfilling their protein needs”, remarked Luke Bateman, a Senior Vice President at Insight Equity.
Insight Equity is partnering with incumbent management and industry veteran Jim Reed on the transaction. Eliot Kerlin, Senior Partner at Insight Equity added, “Insight Equity is excited to partner with an experienced operating team to pursue continued growth at Eddy. The combination of Jim Reed and John Fortino will support the Company’s goals of developing best in class facilities while also expanding into new markets.”
Jim Reed, incoming CEO of Eddy Packing Company, brings more than 26 years of experience in the food and protein processing industries to Eddy. Jim added, “I think Eddy Packing is a terrific Company, and its customer relationships and high-quality product offering support that position. I am excited to join the team, and look forward to finding new and creative solutions to fulfill the needs of our customers. With the financial support and operational expertise of Insight Equity, Eddy’s best days should be yet to come.”
Eddy Packing Company is a producer of high-quality beef, pork, and poultry products, and provides a diversified portfolio branded and private label products to its retail and food service customers. Eddy’s premium meats are found under various store brands from regional grocers to large national grocery chains, in restaurants and wholesale clubs across the United States.
Insight Equity makes control investments in strategically viable, middle-market manufacturing and distribution businesses across a wide range of industries. Leveraging its collaborative value creation model, Insight Equity facilitates operating enhancements, efficiency improvements, and growth. The firm specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, growth opportunities, going-private transactions, restructurings, and transitions from family ownership. Insight Equity is headquartered near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.