PARSIPPANY, N.J. – B&G Foods, Inc. has added another snack manufacturer to its portfolio. The company entered into an agreement on Aug. 20 with the private equity firm Brynwood Partners VI L.P. and Mondelez International to acquire Back to Nature Foods Co. for approximately $162.5 million.
Back to Nature Foods Co. is a joint venture between Brynwood and Mondelez, and features the Back to Nature and Snackwell’s brands. Products manufactured under the brands include cookies, cakes, pretzels, popcorn, nuts and trail mix, granola, cereals, soups and juices. Many of the products sold under the Back to Nature brand are Non-GMO Project verified or certified organic.
|Robert Cantwell, president and c.e.o. of B&G Foods|
“We are very pleased to add Back to Nature to the B&G Foods family of brands,” said Robert C. Cantwell, president and chief executive officer of B&G Foods. “Consistent with our acquisition strategy and our recent Green Giant, spices and seasonings and Victoria acquisitions, we are continuing to diversify our portfolio of brands and invest in brands and products that we believe are most relevant to today’s consumer.”
Brynwood VI and Mondelēz International formed the Back to Nature joint venture in 2012, withBrynwood VI acquiring operating control while Mondelez International retained a minority position in the company. In 2013, Mondelez International contributed the SnackWell's brand to the joint venture.
|Hendrik Hartong III, chairman and c.e.o. of Brynwood Partners|