The private equity firm made the investment via one of its affiliated private equity funds in partnership with the owner of the company.
The terms of the deal were not disclosed.
Founded in 1933, and led by President Nick Nicolay, Kar Nut Products offers products in a range of formats, including a portfolio of traditional value-oriented trail mixes and nuts sold under the Kar’s brand, as well as premium, all-natural products for health-conscious consumers, sold under the Second Nature brand.
The company has built national distribution through a blue chip customer base including grocery chains, club stores and distributors.
Palladium will seek to partner with the Kar’s management team with the goal of further expanding the company’s market reach through a range of opportunities, including geographic and channel expansion, new product innovation, and potential acquisitions in the snack food category.