Kraft Foods has sold its energy bar business, Balance Bar Co., to private equity group Brynwood Partners VI for an undisclosed sum.
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Brynwood VI will base the company in the north-east part of the US and has recruited a “talented” management team to operate the business, the group said.
Balance Bar competes in the growing nutrition and energy bar segment.
“Brynwood VI is pleased to announce this exciting transaction,” said Hendrik Hartong III, senior managing partner of Brynwood VI.
“Balance Bar is a great brand with a very loyal consumer following. We plan to increase the focus on the brand and expand the business through increased marketing and new product innovation.”
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By GlobalDataHartong will serve as chairman of the Balance Bar Company.
Kraft Foods was not immediately available for comment.
