Houlihan Lokey Advises Tillamook Country Smoker

Houlihan Lokey is pleased to announce that Tillamook Country Smoker (Tillamook), a portfolio company of Insignia Capital (Insignia), has been acquired by Second Nature Brands (Second Nature), a portfolio company of CapVest Partners (CapVest). The transaction closed on July 10, 2026.

Headquartered in Tillamook County, Oregon, Tillamook is a category leader in clean-label meat snacks. The company has been handcrafting premium meat snacks in Oregon since 1975, using all-natural ingredients and real hardwood smoke to deliver bold, authentic flavors. With a commitment to sustainability and quality, their products are protein-packed and have zero-sugar offerings—perfect for health-conscious snackers.

Second Nature is a leading platform for better-for-you snacking brands, such as Kar’s Nuts, Second Nature Snacks, Sahale Snacks, Sanders, Brownie Brittle, and Voortman. The strategic transaction marks Second Nature’s first investment in the fast-growing protein snacks category.

Houlihan Lokey served as the sole financial advisor to Tillamook and assisted in structuring and negotiating the transaction on its behalf. This deal represents another successful transaction for Houlihan Lokey in the branded food and beverage space.

RELATED: Food & Beverage, Mergers and Acquisitions