Shearer’s Foods to be acquired by private equity firm

NEW YORK — The private equity company Clayton Dubilier & Rice is acquiring Shearer’s Foods from its majority shareholder the Ontario Teachers’ Pension Plan Board, Toronto. Terms of the acquisition were not disclosed.

Shearer’s Foods is a contract manufacturer and private label supplier of salty snacks, cookies and crackers that is based in Massillon, Ohio. The company has 17 manufacturing plants, and will continue to be led by Bill Nictakis, executive chairman, and Mark McNeil, chief executive officer.

“CD&R shares our focus and commitment, and their track record of helping build stronger, more sustainable businesses makes the firm an ideal partner as we continue to drive our business forward,” Mr. Nictakis said. “At the same time, I would like to express my gratitude to the Ontario Teachers’ team. Under their more than a decade of ownership, we have successfully grown our footprint and significantly diversified our offerings to our valued customers.”

Clayton Dubilier & Rice has investments in a variety of industries, including health care, business services, financial services, technology as well as consumer retail.

“We have deep admiration and respect for Shearer’s, a leading business that shares our core values in a sector and operating model we know and understand well,” said John Compton, CD&R operating partner and former president of PepsiCo, Inc., Purchase, NY.