Vending

Private investment firm to acquire Shearer’s Foods

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December 13, 2023

Clayton Dubilier & Rice, a private investment firm, has agreed to acquire Shearer's Foods, a contract manufacturer and private label supplier serving the snack industry in the U.S. and Canada, from Ontario Teachers' Pension Plan Board, according to a press release. Terms of the transaction were not disclosed.

As part of the transaction, Ontario Teachers', Shearer's existing majority shareholder, will exit its position in the company.

Ontario Teachers' initially invested in Shearer's in 2012 and became a majority owner in 2015. The manufacturer has since grown from five plants to 17.

The manufacturer, based in Massillon, Ohio makes salty snacks and cookies and is led by Executive Chairman Bill Nictakis and CEO Mark McNeil.