GREENWICH, Conn. Brynwood Partners recently announced its acquisition of the Balance Bar Co. from Kraft Foods. This transaction, completed late last year, marks Brynwood’s first investment.
Brynwood will base the company in the Northeast and has recruited its own management team to operate the business, the investment firm stated. According to the statement, the firm 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 is pleased to announce this exciting transaction," stated Hendrik Hartong III, senior managing partner of Brynwood. "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."
Hartong 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.