Second Nature Brands has struck a deal to buy fellow US snacks business Brownie Brittle.
Financial terms were not disclosed. The deal takes Second Nature Brands, a company centred on savoury snacks and chocolate, into the baked-goods category.
As the name of Brownie Brittle suggests, Second Nature Brands’ new asset supplies brownie snacks. Its products are thinner and have a crunchier texture than a typical brownie.
Founded in 2012, the firm has been owned since 2018 by private-equity investor Encore Consumer Capital. Outside North America, Brownie Brittle’s presence takes in customers in markets such as South Korea, Japan and Australia.
The deal is the first made by Second Nature Brands since private-equity firm CapVest bought the business in April. Othmane Khelladi, a partner at CapVest, said the acquisition was “a great first step in our plan to transform the business into a highly diversified US snacking platform”.
Second Nature Brands CEO Victor Mehren added: “We have ambitious plans to become a US leader in snacks and treats and the acquisition of Brownie Brittle is an exciting step on this journey, which expands our presence into baking and unlocks a new growth stream for us.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Michigan-based Second Nature Brands has a product range including Kar’s Nuts, Second Nature Snacks and Sanders Chocolates. It specialises in non-GMO-verified snacks and trail mixes.
Jan Grywczynski, who became Brownie Brittle’s CEO in February, said the sale of the company was “a very positive reflection on our business, our people and the strength of the Brownie Brittle brand”.
She added: “Second Nature Brands was attracted by the incredible growth that Brownie Brittle has demonstrated historically, as well as strong brand value and great product quality. We are very excited about this new chapter for Brownie Brittle, as part of the Second Nature Brands family, and look forward to working with Victor and the rest of the Second Nature team to accelerate our growth as a leader in thin, sweet, permissibly indulgent snacking.”