B&G Foods Purchases Back to Nature Foods Co.
Brynwood Partners VI L.P. is selling Back to Nature Foods Company to B&G Foods Inc. for about $162.5 million in cash, with the transaction expected to close in the third quarter of this year.
Back to Nature Foods was formed in 2012 as a joint venture between Brynwood VI and Mondelez International Inc., where Brynwood VI had operating control and Mondelez retained a minority position. SnackWell joined the joint venture in 2013, making Back to Nature a leading independent better-for-you brand. Back to Nature Foods’ mission is to give people truly delicious foods made from recipes inspired by nature, and the product line includes cookies, crackers, granola, nuts, trial mixes, juice, ancient grain soups and cereal.
"We were able to restore, invigorate and grow the outstanding Back to Nature and SnackWell's brands and create a strong standalone company that attracted a prominent strategic buyer in B&G Foods,” said Hendrik Hartong III, Chairman and CEO of Brynwood Partners.