Key Takeaways
- • AUA Private Equity Partners has sold Western Smokehouse Partners, LLC, a manufacturer of better-for-you protein snacks, to Monogram Capital Partners; terms of the transaction were not disclosed.
- • AUA acquired a majority stake in Western in 2023 and, per the company, more than doubled the size of the business during its two-year ownership.
- • During AUA's partnership, Western opened a new facility, launched three expansion projects, and acquired Golden Valley Natural, a premium jerky and meat stick manufacturer.
- • Monogram Capital Partners, which previously was a minority investor alongside AUA, takes ownership and plans further investment to support growth, according to Jared Stein of Monogram.
- • Harris Williams advised AUA as financial advisor and McDermott Will & Emery as legal advisor on the sell-side.
Summary
AUA Private Equity Partners, LLC, an operationally focused lower middle-market firm focused on family-owned consumer products and services businesses, announced the sale of Western Smokehouse Partners, LLC to Monogram Capital Partners. The company's announcement, distributed via Business Wire, did not disclose transaction terms.
AUA acquired a majority stake in Western in 2023, targeting U.S. consumer demand for premium meat-based snacks. During the partnership, Western significantly expanded production capacity, opened a new facility, and undertook three expansion projects. The company also acquired Golden Valley Natural, a manufacturer of premium jerky and meat sticks, to broaden its natural meat snack capabilities. AUA says it worked with management to professionalize the organization, invest in automation, and strengthen strategic capabilities, positioning Western as a market leader in the better-for-you protein snacking segment.
David Benyaminy, Partner at AUA Private Equity, credited Western's management team for executing growth initiatives ahead of expectations. Monogram, described as a trusted partner and minority investor alongside AUA throughout the ownership period, will take over. Jared Stein, Partner at Monogram, said the firm enjoyed working with AUA over the past two years and plans to invest further to support rapid growth. Matt Bormann, CEO of Western, said AUA's support in accelerating growth exceeded the company's expectations. Andy Unanue, Managing Partner of AUA, described the platform as built through the efforts of the founding families, the leadership team, and AUA's investment and operations professionals.
Western describes itself as a manufacturer of premium, better-for-you meat snacks operating four facilities across the Midwest and one in Idaho, serving emerging and established brands as well as large retailers through co-manufactured, private label, and branded products. Monogram Capital Partners, headquartered in Los Angeles, manages over $1.5 billion in RAUM focused on consumer businesses, supply chain partners, and service providers. AUA's sell-side deal team was led by Benyaminy, Brian Krouskos, Nicolas Pflaum, and Trip Ewig.
AUA acquired a majority stake in Western in 2023, targeting U.S. consumer demand for premium meat-based snacks. During the partnership, Western significantly expanded production capacity, opened a new facility, and undertook three expansion projects. The company also acquired Golden Valley Natural, a manufacturer of premium jerky and meat sticks, to broaden its natural meat snack capabilities. AUA says it worked with management to professionalize the organization, invest in automation, and strengthen strategic capabilities, positioning Western as a market leader in the better-for-you protein snacking segment.
David Benyaminy, Partner at AUA Private Equity, credited Western's management team for executing growth initiatives ahead of expectations. Monogram, described as a trusted partner and minority investor alongside AUA throughout the ownership period, will take over. Jared Stein, Partner at Monogram, said the firm enjoyed working with AUA over the past two years and plans to invest further to support rapid growth. Matt Bormann, CEO of Western, said AUA's support in accelerating growth exceeded the company's expectations. Andy Unanue, Managing Partner of AUA, described the platform as built through the efforts of the founding families, the leadership team, and AUA's investment and operations professionals.
Western describes itself as a manufacturer of premium, better-for-you meat snacks operating four facilities across the Midwest and one in Idaho, serving emerging and established brands as well as large retailers through co-manufactured, private label, and branded products. Monogram Capital Partners, headquartered in Los Angeles, manages over $1.5 billion in RAUM focused on consumer businesses, supply chain partners, and service providers. AUA's sell-side deal team was led by Benyaminy, Brian Krouskos, Nicolas Pflaum, and Trip Ewig.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.