Greenwich-based Brynwood Partners VI has acquired the Balance Bar Company from Kraft Foods.
The transaction with Kraft, based in Chicago, will mark Brynwood VI’s first investment; the terms of the transaction were not disclosed. Balance is located in Rye Brook, NY.
Brynwood said in a statement it will base Balance in the Northeast and has recruited a management team to operate the business. Balance Bars compete in the nutrition and energy bar segment. Brynwood Partners (without the VI) already has an investment track record in the food industry having managed prior investments in Lincoln Snacks, Signature Snacks, DeMet’s Candy Co. and Richelieu Foods.
“Brynwood VI is pleased to announce this exciting transaction,” said Hendrik Hartong, senior managing partner of Brynwood VI in a prepared statement. “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.”
Hartong will serve as chairman of the Balance Bar Co.
Brynwood Partners, founded in 1984, is a private equity fund that makes investments in lower middle market companies, typically targeting consumer products, light industrial manufacturing, specialty retailing and business services sectors.
