Report: Majority Stakeholder of Shearer’s Foods Explores Possible Sale

Aug. 4, 2023

The Massillon, Ohio, snack processor could be valued at more than $3 billion, if majority owner Ontario Teachers’ Pension Plan follows through on sale.

Andy Hanacek

Majority ownership of Massillon, Ohio-based Shearer’s Foods could be on the market, according to a Reuters report, as the Ontario Teachers’ Pension Plan (OTPP) is reported to be exploring the sale of the snack foods processor that could value the company at more than $3 billion.

The Reuters report cites unidentified sources saying that OTPP is working with Goldman Sachs Group Inc. on an auction for the company, but that a deal is not certain at this time. OTPP first invested in Shearer’s in 2012 and then acquired a majority stake in the company in 2015. None of the companies involved responded or commented to Reuters’ requests.

Shearer’s Foods is the largest supplier of private label salty snacks and the second-largest supplier of private label cookies and crackers in North America, according to the web site. Minority owners in the company include Wind Point Partners and the company’s management team.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.