Investor buys TrueNorth brand from PepsiCo
January 3, 2011
STAMFORD, CONN. — The DeMet’s Candy Co., which is owned by the Brynwood Partners private equity fund, has acquired the TrueNorth nut snack brand from Frito-Lay North America, a division of PepsiCo, Inc. Terms of the agreement were not disclosed.
“DeMet’s is pleased to welcome the TrueNorth products to its family of brands,” said David D. Clarke, president and chief executive officer of DeMet’s. “These high quality, all natural products will provide DeMet’s with many new avenues for growth and innovation both in market segments that TrueNorth presently competes in as well as in new ones."
DeMet’s said it will merge the TrueNorth brand into its existing portfolio of confectionery brands, which include Turtles, Flipz, Treasures and Stixx.