Norwest Equity Partners, a leading middle market investment firm, has announced that it has made an investment in Old Hickory Smokehouse LLC, a manufacturer, marketer and distributor of food and beverage products sold into the retail grocery and foodservice channels under both branded and private label offerings. NEP’s investment was made in partnership with Wayne Wolf, Old Hickory CEO. The transaction closed February 20, 2015; financial terms were not disclosed.
This investment is demonstrative of NEP’s investment partnership model which is focused on partnering with business owners and their management teams to build strong, growing companies into even greater industry leaders. Todd Solow, a NEP partner and Old Hickory board member, stated, “Our firm has been actively seeking investments in this segment, and to have the opportunity to partner with an industry veteran such as Wayne Wolf and be involved with a company that is well-positioned for continued growth is very exciting. The Company’s focus on prepared meats and accessories is attractive due to a large addressable market and multiple growth opportunities.”