The North American bakery division of Parmalat Bakery & Dairy, a unit of beleaguered Italian food group Parmalat, has sold its branded and private-label cookie business to private equity firm Catterton Partners.
The acquisition includes the Archway & Mother’s brands, Parmalat’s US and Canadian private label cookie businesses, as well as regional brands. Terms of the deal were not disclosed.
Catterton said the company will be renamed Archway & Mother’s Cookie Company.
“We are pleased to have finalised this transaction with Catterton Partners,” said Marc Caira, president and CEO of Parmalat Dairy & Bakery.
“This transaction allows us to fully focus on our long term commitment to the Canadian dairy market as an industry leader dedicated to the health and wellness of Canadians through our milk and dairy products, fruit juices, cultured products, cheese products and table spreads,” Caira added.
Parmalat Dairy & Bakery has operated in Canada and the US as a subsidiary of Italy’s Parmalat Finanziaria since 1997.