WALNUT CREEK, Calif. — Insignia Capital Group, LP ("Insignia") has successfully completed the refinancing of its portfolio company Tillamook Country Smoker, Inc. ("Tillamook" or the "Company"), a leading provider of hardwood-smoked meat snacks. The Company secured $75 million of total committed capital for the purposes of refinancing existing debt, funding working capital growth, and funding a dividend to Insignia. Legacy FocalPoint, now B. Riley Securities, Inc. ("B. Riley"), served as exclusive financial advisor to the Company and arranged the financing.
Based in Bay City, Oregon, Tillamook manufactures, markets, and distributes a wide variety of meat snacks made from all-natural ingredients. The Company is the fastest growing among the top brands in the category and is viewed as a pioneer in the industry. Tillamook was the first brand to introduce zero-sugar jerky to consumers and continues to develop new and innovative products that appeal to the cravings of its loyal consumers.
"[B. Riley] ran an efficient and thorough process, delivering an abundance of proposals from a targeted list of high-quality lenders. The team showed its expertise in navigating a disciplined process and negotiating an outcome that not only met our near-term goals, but also provided the Company with sufficient runway and capacity to execute on its future growth initiatives," said Nick DeTrempe, Managing Director at Insignia.
Clay Bryan, Senior Managing Director, added, "We are excited to announce another exceptional outcome with a private equity client and build upon our relationship with Insignia. This transaction also highlights the collaboration across multiple [B. Riley] groups, including our Sponsor Coverage, Food & Beverage, and Private Capital Advisory practices."
About Insignia Capital Group, LP
Insignia Capital is a San Francisco Bay Area private equity firm focused on lower middle-market companies. Insignia partners with company founders and management teams to help drive growth and achieve true business potential. The firm's principals have significant experience building businesses across a range of industries including consumer, business services, and healthcare. To learn more, visit insigniacap.com.
About Tillamook Country Smoker, Inc.
Tillamook Country Smoker has been providing high-quality, protein-rich, hardwood-smoked 100% USA beef jerky, smoked sausages, and silver dollars since 1975. Remaining true to its roots, its premium-cut meat snacks are handcrafted in Tillamook County, Oregon with a unique hardwood smoking process. Tillamook products are available at leading convenience, specialty, and grocery stores nationwide as well as online. To learn more, visit tcsjerky.com.
About B. Riley Securities
B. Riley Securities is a leading investment bank that provides a full
suite of investment banking, corporate finance, advisory, research, and
sales and trading services. Investment banking services include initial,
secondary, and follow-on offerings, institutional private placements,
merger and acquisition (M&A) advisory, SPACs, corporate
restructuring, and recapitalization. The firm is nationally recognized
and highly ranked for its proprietary small-cap equity research. B.
Riley Securities is a wholly owned subsidiary of B. Riley Financial. For
more information, visit www.brileysecurities.com.
Please contact Clay Bryan, Senior Managing Director, at 310-405-7085, Richard NeJame, Managing Director, at 917-741-8094, with any questions about this transaction.