by Christopher Freeburn | December 30, 2013 11:08 am
Private equity firm Brynwood Partners says that it will purchase a controlling interest in Mondelez International’s (MDLZ) Snackwell diet-oriented cookie unit.
The new deal will mark the second acquisition of a Mondelez snack food business by Brynwood. Last year, the firm purchased a controlling interest in Mondelez’ Back to Nature snack unit. Brynwood indicated that it will merge the Snackwell and Back to Nature. Mondelez will continue to hold a minority stake in the unit, the Wall Street Journal notes.
Brynwood indicated that it will focus on launching health-focused products, though not necessarily low-fat items, through the combined Snackwell-Back to Nature business.
Terms of the deal were not revealed. However, Brynwood is known for making investments of under $100 million.
MDLZ stock rose modestly in Monday morning trading. MDLZ stock has climbed about 25% since March.
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