DALLAS — Highlander Partners, L.P., a middle-market private investment firm based in Dallas, has formed Bettera Brands, L.L.C., a new holding company headquartered in San Francisco.
According to Highlander, Bettera was created to execute a “buy and build” strategy in the confection and snack industry, targeting acquisitions of companies and assets that have “excellent brand equity and strong growth potential.”
As the majority shareholder of Bettera, Highlander Partners said it is committed to providing significant capital to Bettera to facilitate its growth organically and through acquisitions. Highlander manages its proprietary capital and more than $1.2 billion in capital dedicated to private equity investments.
In connection with Bettera’s formation, Highlander has acquired Gimbal Brothers, L.L.C. Founded in 1898, Gimbal’s is a manufacturer of gummy vitamins and gourmet jelly beans with distribution across North America. The company has fully integrated manufacturing capabilities, and its production facility is SQF Level 3, NSF/CFR111 certified for vitamins and dietary supplements.
In addition to the acquisition of Gimbal’s, Highlander said it will fold its Hillside Candy company into the Bettera business. Hillside makes a variety of organic, sugar-free and traditional confection products under the GoOrganic, GoLightly, Hillside Sweets and Pick Your Color brands.
“As a result of attractive market dynamics, diverse product offerings and solid operational strength, Gimbal’s has experienced strong financial performance that will continue under the Bettera umbrella," said Estle Kominowski, former chief operating officer of Gimbal’s and newly-appointed chief executive officer of Bettera. "The combined product offering will enhance the company’s success in further penetrating current customers while adding new ones and positions the company for exceptional performance in the future.”
|Jeff Hull, chairman of Bettera and president of Highlander|