Greenwich-based Brynwood Partners VI LP has signed a definitive agreement to sell Back to Nature Foods Co. LLC to B&G Foods Inc. for approximately $162.5 million in cash.
Brynwood VI teamed in 2012 with Mondelēz International Inc., an East Hanover, New Jersey-based snack company, to create the Back to Nature joint venture, with Brynwood VI maintaining operating control of the healthful snack food brand. Mondelēz International contributed the SnackWell’s brand to the joint venture in 2013.
“The unique joint venture with Mondelēz International showcased Brynwood Partners’ investment and operational strengths in consumer corporate carve outs,” said Hendrik Hartong III, chairman and CEO of Brynwood Partners. “We appreciate the confidence Mondelēz International has bestowed in our firm and we enjoyed working with them as a true partner in the joint venture.”