US baking mix manufacturer Continental Mills has acquired Kretschmer wheat germ owner Sun Country Foods from private-equity firm Brynwood Partners.
Continental Mills, which owns products including Krusteaz pancake mixes, said it wanted to invest in branded businesses.
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President and CEO John Heily said: “The purchase of Sun Country Foods and the Kretschmer wheat germ brand are very much aligned with our core product lines. We are very interested in investing in our branded business and this is a great health oriented food that has been a mainstay in the health category of products for many years.”
Brynwood formed Sun Country Foods to acquire Kretschmer from PepsiCo last year. The private-equity firm did not announce details on either the acquisition or the sale but managing partner Ian McTaggart said the buyout house was “very happy with the outcome” of the disposal.
It is Brynwood’s second sale in a fortnight. Last month, it sold US energy bar brand Balance Bar to vitamin and supplement giant NBTY.
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By GlobalData
