NEW YORK AND TORONTO — Private investment firm Clayton Dubilier & Rice (CD&R) announced it has completed its acquisition of Shearer’s Foods.
“We are confident that CD&R’s experience, expertise and resources will strengthen our team and advance our mission to make Shearer’s the manufacturer and supplier of choice for our growing customer and retailer communities,” said Bill Nictakis, executive chair of Shearer’s. “We are grateful for the support we have received from Ontario Teachers’ that has helped us execute our strategy and solidify our position.”
News about the pending acquisition of the co-manufacturer and private label supplier broke earlier this year.
“The closing of this transaction is a testament to Shearer’s differentiated capabilities and category leadership in salty snacks and cookies and crackers products,” said Mark McNeil, CEO of Shearer’s. “CD&R’s understanding of our business, values and vision, combined with their strategic, operating and functional expertise, creates an incredible opportunity for Shearer’s to accelerate our growth trajectory.”
