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GREENWICH, Conn. — Brynwood Partners VI on Monday announced that it has sold its Balance Bar Company, which manufactures nutrition and energy bars, to NBTY.
The value of the deal was not disclosed, though the Wall Street Journal reported that NBTY agreed to pay about $78 million for Balance Bar, citing people familiar with the transaction. According to that report, Balance Bars enjoy significant distribution across supermarkets, giving NBTY an opportunity to expand distribution through the convenience store and drug store channels.
Balance Bar was acquired by Brynwood in 2009 from Kraft Foods. The company, which is headquartered in Valhalla, N.Y., posted $26.6 million in sales of Balance bars across food, drug and mass (minus Walmart) for the 52 weeks ended Sept. 9, according to SymphonyIRI Group data. Sales for the period were up 4.7%, and the brand ranked No. 11 in SymphonyIRI's nutritional/instrinsic health value bars. The category leader is General Mills Fiber One followed by Clif and Zone Perfect.