Benford Capital Partners (“Benford Capital” or “BCP”) is pleased to announce the sale of Pasture Brands (the “Company”), the holding company formed to acquire Farmers Hen House, a leading provider of branded and private label specialty eggs, and Pillars Yogurt, a branded provider of better-for-you drinkable and plant-based yogurt. The transaction closed on January 9, 2025.

Over the course of its three-year investment, BCP worked in partnership with CEO Ryan Miller to bolster the executive team, prioritize branded revenue growth, expand the Company’s network of suppliers, and successfully acquire and integrate a highly complementary brand in the dairy case.

Founded in 1997 and based in Kalona, IA, Farmers Hen House sources, processes, and packages branded and private label specialty eggs (such as organic, free range, and pasture raised) which are sold into a diverse customer base across the natural, conventional grocery, and club channels. Farmers Hen House partners with a network of more than 90 local farmers to source its high quality, premium eggs.

Launched in 2016, Pillars is a better-for-you, clean label drinkable yogurt brand sold at leading conventional and natural retailers. Pillars has grown rapidly since inception, and the brand is known for its exceptional taste, nutritional profile, and product quality.

“Back in 2021, I set out to find a financial partner with a demonstrated track record of scaling food and consumer brands,” noted CEO Ryan Miller. “Partnering with Benford Capital has been instrumental in accelerating our growth. With BCP’s strategic guidance and highly engaged approach, we were able to achieve our growth goals and I’m excited to continue leading the Company in this next chapter.”

Ben Riefe, Managing Director at Benford Capital, noted, “Pasture Brands is a great example of BCP’s approach to scaling CPG brands. Since partnering with Ryan Miller in December 2021, the key tenets of our value creation plan included building the senior management team and growing the Company’s branded sales through new customer wins. We are thrilled with this successful realization and are confident the Company is well-positioned for continued success in the years ahead.”

“We are grateful for the trust Ryan placed in us as partners,” added Brian Behm, Principal at Benford Capital. “We are happy to have effected positive, lasting change that allowed the Company to capitalize on its significant growth potential.”

Brown Gibbons Lang & Company served as the exclusive financial advisor to Pasture Brands; DLA Piper served as legal counsel. Learn more about Farmers Hen House and Pillars Yogurt at www.farmershenhouse.com and www.pillarsyogurt.com, respectively.

ABOUT BENFORD CAPITAL PARTNERS

Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired over 55 companies and currently owns 15 platform companies. BCP’s industry areas of focus include consumer products and food, industrial technology, B2B e-commerce, and agricultural products and services. BCP is currently investing from its $200 million Fund II and has approximately $350 million of total capital under management. For more information, please visit: www.benfordcapital.com.

For additional information about this transaction, please contact Ben Riefe (ben@benfordcapital.com) or Brian Behm (bbehm@benfordcapital.com).