DALLAS — Benestar Brands, LLC, a portfolio company of private investment firm Highlander Partners, LP, has acquired Miller Baking Co., manufacturer of Pretzilla branded soft pretzel bites and buns. Financial terms of the transaction were not disclosed.
Based in Milwaukee, Miller Baking Co. introduced the Pretzilla brand in 2010 after spending three years developing a “light and airy with a touch of sweetness” soft pretzel bread, the company said. The business has since transitioned from a multi-product bakery to a specialized pretzel bread snack business and now offers a variety of soft pretzel products, including burger buns, mini buns, sausage buns and bites.
"This is an exciting time for Pretzilla," said Brian Miller, founder of the brand. "What started as a simple passion for baking pretzel bread has grown into an amazing brand that is recognized in households across the US. I'm extremely proud of what the Pretzilla team and its leadership have been able to accomplish. I look forward to watching the brand achieve totally new levels of success with the Highlander and Benestar teams."
Pretzilla products are manufactured in two Milwaukee-based facilities and distributed nationally to more than 10,000 stores.
"Pretzilla is a uniquely positioned brand,” said Carl E. Lee Jr., chief executive officer of Benestar Brands. “It is already a beloved household name with great awareness, yet it has hardly scratched the surface of its market opportunity. With Benestar's retail relationships and penchant for product innovation, we think there is an incredible opportunity to take Pretzilla to the next level. We know the pretzel category well and are amazed by the strides Brian Miller and his team have made to develop and produce products with such a high level of consistent quality. We are thrilled to welcome Pretzilla to the Benestar family and look forward to continued growth, through both driving new snack innovations and accelerating existing products."
Benestar Brands operates as a holding company for a range of snack products, including pork rinds and corn tortilla chips. Its brands include Mac's, Cazo de Oro, Turkey Creek, PÖRQ and Chicas Chips.
"Since forming Benestar in August 2019 with the acquisition of Evans Foods, Highlander and the Benestar team have been actively targeting add-on investments; this marks our third acquisition made under the Benestar platform,” said Jeff L. Hull, president and CEO of Highlander Partners. “We are seeking exciting, innovative brands with strong growth potential across the snacking category, and Pretzilla fits these criteria perfectly. Pretzilla is the category leader in pretzel bread and dominates the market today due to superior innovation, consistent high quality and outstanding customer service. We intend to invest significantly in Pretzilla's production capabilities in order to meet the growing demand for its soft fresh pretzels and our plans for robust product innovation."