Private equity firm buys better-for-you snack maker

by Monica Watrous
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That’s How We Roll, L.L.C., Mrs. Thinsters and Dippin’ Chips
That’s How We Roll offers better-for-you snacks under such brands as Dippin’ Chips and Mrs. Thinster's.

SANTA MONICA, CALIF. — Clearlake Capital Group, L.P. has acquired That’s How We Roll, L.L.C., which offers better-for-you snacks under such brands as Mrs. Thinsters and Dippin’ Chips. Financial terms of the transaction were not disclosed.

The acquisition was part of the private investment group’s recently announced Better For You Holdings platform. Aldo Zuppichini, founder and chief executive officer of That’s How We Roll, will retain a significant equity stake in the company. An industry veteran, Mr. Zuppichini helped launch such brands as Pretzel Crisps and New York Style Bagel Chips.

That’s How We Roll will remain based in Fairfield, N.J., under the leadership of Mr. Zuppichini and his management team, including Sam Kestenbaum, senior vice-president of marketing and operations, and Amy Kiley, vice-president of sales.

“We are excited to partner with Aldo, Sammy, Amy and the rest of the team at That’s How We Roll and to continue supporting the company’s growth as they strive to meet the demands of today’s health-conscious, perceptive consumers,” said José Feliciano and Behdad Eghbali, co-founders and managing partners of Clearlake Capital Group, in a statement. “With better-for-you snacks that include options such as non-G.M.O. and gluten-free in a variety of delicious flavors, we believe Dippin’ Chips and Mrs. Thinsters are well-positioned to attract consumers looking to make healthier lifestyle choices.”

José Feliciano and Behdad Eghbali, co-founders and managing partners of Clearlake Capital Group
José Feliciano and Behdad Eghbali, co-founders and managing partners of Clearlake Capital Group.

For That’s How We Roll, the partnership is expected to support product innovation and accelerate national distribution, Mr. Zuppichini added.

With distribution in more than 10,000 retail outlets within grocery, club and mass channels, That’s How We Roll products are made without bioengineered ingredients. Mrs. Thinsters are reduced-calorie, crispy cookies in such flavors as cake batter, chocolate chip, brownie batter, waffle crisps, pumpkin spice and toasted coconut. Dippin’ Chips are gluten-free, dip-able tortilla chips in varieties that include vegetable, fiesta bean, super grain, original sea salt and blue corn.

Clearlake’s Better For You Holdings platform was launched to identify investments in emerging food and health and wellness trends. In a partnership with Jason Cohen and Leigh Feuerstein of Halen Brands, a recently formed venture, Clearlake Capital Group last year invested in Chef’s Cut, a premium jerky brand, and acquired Rex’s Outrageous, a producer of chocolate-based, gluten-free snacks under the Road Crew Crunch brand.
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