Weaver Popcorn parent acquired
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The parent company of family-owned Weaver Popcorn has been acquired by a Florida-based private equity firm that plans to expand the popcorn maker’s capabilities.
Weaver Holdings LLC, which started Weaver Popcorn Manufacturing nearly a century ago, was acquired by AUA Private Equity Partners LLC, according to a news release. Financial terms of the transaction were not disclosed.
Representatives of both companies said the deal will allow Weaver Popcorn to expand its operations and increase innovation. Whether any Indiana jobs will be affected is unclear. Weaver Popcorn did not respond to multiple requests for more information from Inside INdiana Business.
Van Buren-based Weaver Popcorn, the largest independent manufacturer of popcorn products in the United States, has offices in Indianapolis and manufacturing operations in Boone County. The Whitestown plant employs more than 500 people, according to a 2022 Inside INdiana Business report.
“We are thrilled to partner with AUA Private Equity and its phenomenal team, who has a demonstrated history of success in food manufacturing and helping to propel the growth of family-owned businesses,” Weaver Popcorn Manufacturing CEO Jason Kashman said in the release. “By building on the foundation that the Weaver family put in place, AUA Private Equity will allow us to expand our capabilities operationally and increase the pace of product innovation.”
Weaver Popcorn Co. has been a family-owned and operated business since it was founded in 1928 by the Rev. Ira Weaver. It now has three independent operating companies: Weaver Popcorn Hybrids, Weaver Popcorn Bulk and Weaver Popcorn Manufacturing.
AUA Private Equity Partners is an investment firm that focuses on family-owned businesses in the consumer products and services sectors, the news release said.
“We see tremendous opportunity to help Weaver Popcorn Manufacturing expand, and the Company possesses all of the necessary attributes to accelerate its success: an excellent management team, an engaged and aligned family-owner, and a flexible capital structure,” AUA Private Equity partner David Benyaminy said.