November 28 2009
Brynwood Partners VI L.P. has Acquired Balance Bar Company from Kraft Foods
GREENWICH, CT - November 23, 2009 - Brynwood Partners VI L.P. is pleased to announce that it has acquired the Balance Bar Company from Kraft Foods. This transaction will mark Brynwood VI's first investment. Terms of the transaction were not disclosed.
Brynwood VI will base the company in the Northeast and has recruited a talented management team to operate the business. Balance Bar competes in the growing nutrition and energy bar segment. Brynwood Partners has a successful investment track record in the food industry having managed prior investments in Lincoln Snacks, Signature Snacks, DeMet's Candy Company and Richelieu Foods.
"Brynwood VI is pleased to announce this exciting transaction," said Hendrik J. Hartong III, Senior Managing Partner of Brynwood VI. "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." Mr. Hartong III will serve as Chairman of the Balance Bar Company.
Brynwood Partners, founded in 1984 and currently investing capital for its sixth fund, is a private equity fund which makes control investments in lower middle market companies targeting the consumer products, light industrial manufacturing, specialty retailing and business services sectors. The principals of Brynwood Partners have made investments in 22 portfolio companies and have successfully partnered with management to grow businesses through the financial and operating support that Brynwood Partners uniquely provides.