DeMet’s Candy Co has acquired the TrueNorth nut snack brand from PepsiCo unit Frito-Lay North America.

DeMet’s said yesterday (3 January) that it will merge TrueNorth into its existing portfolio of confectionery products. Brands include Turtles, Flipz, Treasures, and Stixx.

The company is owned by the Connecticut-based private equity fund Brynwood Partners.

“We are very pleased to have completed our first transaction with PepsiCo,” said Hendrik Hartong, chairman, DeMet’s and senior managing partner, Brynwood Partners. “We remain very active investors in the food sector and we are excited to add the TrueNorth brand to our successful investment in DeMet’s.”