Mondelez Global, a subsidiary of packaged foods company
Mondelez International, Inc.
), recently sold its SnackWell's cookies and snacks business to
Back to Nature Foods Company, a subsidiary of Brynwood Partners.
Financial terms of the sale were not disclosed.
Brynwood Partners, a private equity firm, formed Back to
Nature Foods Company through a joint venture partnership with
Mondelez Global in 2012. Mondelez Global has a minority position
in the joint venture, while Brynwood Partners enjoys operating
The SnackWell's brand includes low-calorie snacks like Crème
Sandwich Cookies, Devil's Food Cakes, Fudge Pretzels, Yogurt
Pretzels and Popcorn.
Prior to SnackWell's, Brynwood Partners bought many small food
brands or businesses from larger companies and revitalized them.
Some popular names include TrueNorth nut-clusters and Kretschmer
wheat germ businesses from
); Lightlife meat alternative products from
ConAgra Foods, Inc.
) and Balance Bar energy/nutrition bars from
Kraft Foods Group, Inc.
). Kraft Foods Group emerged from the split of Kraft Foods Inc.
into two independent companies - Kraft Foods Group and Mondelez -
in Oct 2012.
Mondelez carries a Zacks Rank #3 (Hold). Ever since the split
from Kraft, Mondelez has been under pressure and posted
Last month, Mondelez reported dismal third-quarter 2013
results, barely managing to meet the Zacks Consensus Estimate for
earnings but missing the same for revenues due to weak
performance in China. The company also lowered its organic
revenue guidance for 2013 as the present headwinds are expected
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