Benford Capital Partners Forms Pasture Brands to Recapitalize Farmers Hen House
Benford Capital Partners Management, L.P. (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce it has formed Pasture Brands Holdings, LLC (“Pasture Brands”) to recapitalize Farmers Hen House, LLC (“Farmers Hen House” or the “Company”) in partnership with CEO Ryan Miller, who will continue to lead the Company post-closing.
Founded in 1997 and based in Kalona, IA, Farmers Hen House sources, processes, packages and sells branded and private label specialty eggs, focusing on premium varieties such as organic, free range, and pasture raised, to leading natural, supermarket, mass, and club channel customers. The Company partners with a network of more than 70 local, primarily Amish and Mennonite, farmers to source high quality eggs for sorting and packing at its solar-powered, SQF-Level III facility. Farmers Hen House services branded and private label customers nationally with a persistent focus on customer service, providing a unique, diversified product offering for its retailer customers.
“We were seeking an investment partner who understands our business and has experience in scaling food brands,” said CEO Ryan Miller. “We also wanted a partner who values our role in the community and our commitment to sustainability while creating continued growth opportunities for our dedicated, driven team. We believe our partnership with BCP will help us build upon our strong foundation with our customers and growers in the years ahead.”
Commenting on the new investment, BCP Managing Director Ben Riefe said, “Ryan and the Farmers Hen House team have built a great brand on a commitment to quality and animal welfare. Our team’s experience with branded food businesses and supermarket distribution enabled us to develop conviction around a value creation plan aligned with Ryan’s long-term goals for the business.”
Benford Capital and Farmers Hen House plan to invest in sales and operational leadership, new product development, and marketing to drive organic growth. In addition, BCP and management will actively pursue add-on acquisitions of natural, fresh/refrigerated food and beverage products.
BCP Principal Brian Behm added, “We are excited to partner with Ryan Miller and the team in Kalona. We look forward to leveraging the collective experience of the BCP team and our Executive Partners to help Pasture Brands achieve its growth objectives in the coming years.”
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 33 companies, including several add-on acquisitions, and currently owns 14 platform companies. Industry areas of focus include industrial technology, consumer products and food, B2B e-commerce, and agricultural products and services. For more information, please visit www.benfordcapital.com.