Monogram Capital Partners Strengthens Its Portfolio with Western Smokehouse Reacquisition

In a significant move for the private equity landscape, Monogram Capital Partners, a leading firm focused on the consumer sector, has announced the reacquisition of Western Smokehouse Partners. This partnership, which draws on Monogram’s vast experience in the consumer packaged goods (CPG) space, underscores a strategic pivot towards scaling supply chain partners in the rapidly evolving food and beverage market.

Monogram first invested in Western Smokehouse, a reputable, family-owned manufacturer, back in 2018. Over the following years, they expanded the company’s operations from one to three facilities and increased its earnings before interest, taxes, depreciation, and amortization (EBITDA) by nearly five times. In 2023, Monogram sold off a majority stake in the company to AUA Private Equity but retained a minority interest to stay engaged in the company’s growth trajectory. Under AUA's leadership, Western further expanded to five facilities, indicating strong operational success.

Jared Stein, Co-Founder of Monogram and Chairman of the Board at Western, remarked, "Western Smokehouse exemplifies everything we seek in an investment. It is a family-owned business with a tremendous market growth opportunity in an area of the supply chain that is incredibly difficult to scale while maintaining quality." As consumer preferences shift towards high-protein and low-sugar snacks, Western is poised to capitalize on these trends, especially with the growing market for healthy on-the-go snacks.

With the reacquisition, Monogram Capital Partners plans to expand Western Smokehouse's operations to seven facilities by the end of 2025, aiming to meet the soaring consumer demand for their products. Sales figures for Western have already increased more than sevenfold over the last five years, driven by innovative product launches such as zero-sugar meat sticks and collaborations with brands like Chomps and Archer. The U.S. market for healthier meat sticks has nearly doubled in recent years, positioning Western as a key player in this competitive sector.

Merging deep CPG expertise with a robust supply chain strategy will be crucial for Western's next level of growth, as the firm believes in leveraging strategic partnerships and operational efficiency for accelerated market presence. Matt Bormann, CEO of Western Smokehouse Partners, expressed optimism about the reacquisition, stating, "Monogram has been an essential partner in our growth journey, and we're well-positioned to build on our success together."

Both Monogram and AUA Private Equity have noted that the transition back to Monogram is a mutually beneficial move that promises continued support for Western as it encounters increasing market demands. With Monogram's history of investing in leading consumer brands, such as Olipop and Chewy.com, this reacquisition reflects their commitment to nurturing businesses that have the potential to thrive in the evolving food landscape.

As Monogram Capital Partners continues to manage over $1.5 billion in consumer investment assets, their operationally focused approach appears set to support Western Smokehouse’s expansion and innovation in the dynamic food and beverage sector. This strategic move shows promise not just for Monogram but for the future of better-for-you snack options that consumers increasingly seek.

For more information about Monogram Capital Partners and Western Smokehouse, visit their respective websites.