Mondelez International has sold US unit SnackWell’s to Back to Nature Foods Co., a business controlled by private-equity firm Brynwood Partners and in which the global snacks giant owns a minority stake.
SnackWell’s manufactures reduced-fat and fat-free cookies and crackers and offers products including crème sandwich cookies, devil’s food cakes, fudge pretzels and popcorn products.
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Back to Nature CEO and president Vincent Fantegrossi said SnackWell’s is an “iconic brand” that “significantly increases” the group’s scale in the crackers and cockies segment.
For its part, Brynwood senior managing partner Henk Hartong said the private equity group was “thrilled” at the “confidence” Mondelez has displayed in Brynwood by handing over operational control of another brand to the Back to Nature business.
In August 2012, the then Kraft Foods sold the majority of Back to Nature to Brynwood. Kraft kept a “substantial minority stake” in the business. Two months later, Kraft formally split in two, forming global snacks company Mondelez and US-focused grocery company Kraft Foods Group.
Last week, Brynwood announced plans to sell another US snacks business, confectioner DeMet’s Candy Co., to the owner of chocolate brand Godiva, Turkish food group Yildiz Holding.
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