Greenwich-based private equity firm Brynwood Partners VI LP has signed a definitive agreement to sell Lightlife Foods Inc. to Maple Leaf Foods Inc. for $140 million. The transaction, expected to close in March, is subject to customary U.S. regulatory review.
Lightlife, founded in 1979 and based in Braintree, Mass., is a manufacturer and marketer in the alternative protein category whose product line includes soy-based hot dogs, burgers and sausage. The company, which employs about 100 people, was acquired by Brynwood from ConAgra Foods in 2013.
Maple Leaf Foods is a major Canadian consumer packaged meats company headquartered in Toronto.