Mondolez International is ending its duration with its SnackWell's entity, and giving it to Brynwood Partners who is then expected to merge it with its Back to Nature Foods company, The Wall Street Journal reported Monday.
Further details were not unveiled, however Mondolez is expected to keep a good amount of share's from Snackwells so the company can earn money from the deal The Journal reported.
Brynwood established Back to Nature foods last year. The brand has crackers, cookies, nuts, and trail mixes, free of artificial flavors or preservatives.
"SnackWell's significantly increases our scale in the important cookie and cracker categories," Back to Nature Chief Executive Vincent Fantegrossi told The Journal in a statement.
"It was on the cutting edge of the low-fat trend," Henk Hartong, senior managing partner at Brynwood told The Journal. "What gluten-free is today, I would argue low-fat was then."
"The real opportunity is for SnackWell's to have an independent and dedicated management team to try to innovate and take advantage of trends in the marketplace," Hartong told The Journal. "You have to rebuild the business, and it's sometimes easier to do that outside a huge organization."
Brynwood Partners announced plans to give its Demet's Candy Co. to Yildiz Holdings in a $221 million deal CSPnet.com reported.
Peter Wilson, CEO at Brynwood Partners is expected to become part of the firm's VII LP, while the remaining employees stay where they are CSPnet.com reported.
According to The Journal, Brynwood anticipates raking in quadruple the amount it put forth towards DeMet's.
Two hundred people work at DeMet's Candy, headquartered in Stamford, Conn. The company has two manufacturing facilities.
Brynwood built one of the locations in Big Flats, N.Y., which also brought 150 positions to the community. The second plant was greatly improved according to CSP.
DeMet's makes chocolate products such as turtles, treasures, and flipz, and has seen its sales, production, and profitability increase dating back to its inception in 2007.
Ylidiz is researching options in the United States, and abroad The Journal reported.
