Partnership With AUA Has Positioned Western as the Market-Leader in Better-For-You Protein Snacking Space

AUA Private Equity Partners, LLC (“AUA Private Equity” or “AUA”), an operationally-focused lower-middle market investment firm specializing in family-owned businesses in the consumer products and services sectors, today announced the sale of Western Smokehouse Partners, LLC (“Western” or the “Company”), a leading manufacturer of better-for-you protein snacks, to Monogram Capital Partners (“Monogram”). Terms of the transaction were not disclosed.

Recognizing the opportunity to capitalize on U.S. consumers’ insatiable demand for premium meat-based snacks, AUA acquired a majority stake in Western in 2023. During AUA’s partnership, Western significantly expanded production capacity, opening a new facility and embarking on three expansion projects. The Company also completed the acquisition of Golden Valley Natural, a manufacturer of premium jerky and meat sticks, to expand its natural meat snack production capabilities and diversify the Company’s product offering in the space. Throughout the partnership, AUA worked closely with Western management to further professionalize the organization, invest in automation, and enhance its strategic capabilities, ultimately positioning the Company as a market leader in the better-for-you protein snacking space.

“Western’s trajectory over the last few years has been extraordinary and we are proud of what we have accomplished during our partnership,” said David Benyaminy, Partner at AUA Private Equity. “This success is a testament to the integrity and discipline of Western’s outstanding management team, who executed on every growth initiative to achieve our joint goals ahead of expectations and best-position Western for the next phase of its evolution. We are thrilled to transition ownership to Monogram, who has been a trusted partner and minority investor alongside us throughout our ownership. Monogram’s deep knowledge of the space and continued commitment to the business makes them an ideal long-term partner for Western going forward.”

Jared Stein, Partner of Monogram, commented: “We have greatly enjoyed working with the AUA team over the last two years to scale the Western platform and are excited to further invest behind and support rapid growth in the business moving forward.”

“When we partnered with AUA in 2023, their track record and reputation of supporting and scaling contract manufacturing businesses in the snacking and food space made them an especially attractive partner,” said Matt Bormann, CEO of Western. “Over the past two years, their support in accelerating our growth has exceeded our expectations, positioning the Company for continued success moving forward.”

“Western is a remarkable example of what can be accomplished when great family-owned companies come together under a unified vision,” commented Andy Unanue, Managing Partner of AUA Private Equity. “This platform was built through the hard work of the founding families, a dedicated leadership team, and the collaborative efforts of AUA’s investment and operations professionals. We are incredibly proud of what was built and confident that Western is well-positioned for its next phase of growth.”

The transaction’s sell-side was led by Partner David Benyaminy, Vice President Brian Krouskos, Vice President Nicolas Pflaum, and Senior Associate Trip Ewig. Harris Williams acted as financial advisor and McDermott Will & Emery as legal advisor to AUA Private Equity.

About AUA Private Equity Partners

AUA Private Equity Partners is an operationally focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the U.S. multi-cultural population. AUA Private Equity invests in companies in their core sectors that generate in excess of $10 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com.

About Western Smokehouse Partners

Western Smokehouse Partners is a leading manufacturer of premium, better-for-you meat snacks operating out of four facilities across the Midwest and one in Idaho. The Company is a preferred commercialization and development solution for emerging and established brands as well as large retailers, offering a wide array of co-manufactured, private label, and branded products. For more information, please visit www.wspartners.com.

About Monogram Capital Partners

Headquartered in Los Angeles, CA, Monogram Capital Partners currently manages over $1.5B in RAUM, focusing exclusively on investing in leading consumer businesses, supply chain partners, and service providers. With an operationally oriented mindset, the firm seeks to be the first institutional partner to inspire founders and family owners alongside strong management teams to help them achieve their full potential. For more information on Monogram Capital Partners, please visit www.monogramcapital.com.

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