Brynwood Partners has sold its investment in Sun Country Foods, a producer and marketer of wheat germ products, to Continental Mills.
Sun Country Foods manufactures and markets the Kretschmer wheat germ brand which has a 90% market share in the U.S. wheat germ category and is offered in two flavors: Original Toasted and Honey Crunch. The company was founded in 1936 by Charles Kretschmer and is headquartered in Norwood, MA with a manufacturing facility in Manhattan, KS (www.suncountryfoodsinc.com).
“We are delighted to announce the divestiture of Sun Country Foods, Brynwood VI’s second portfolio company sale in the last month,” said Hendrik Hartong III, Chairman, Sun Country Foods and Senior Managing Partner, Brynwood Partners. “We are grateful to all of the Sun Country Foods employees for their hard work and dedication to the business. We wish Continental Mills much success with this great brand.”
Sun Country Foods was formed by Brynwood in 2011 to acquire the Kretschmer Wheat Germ brand from The Quaker Oats Company.
Continental Mills is a privately held manufacturer and marketer of prepared flour mixes and related products. The company’s branded products are sold primarily under its Krusteaz trademark and several licensed brands. Continental Mills’ products are sold through retail, foodservice, and club store channels throughout the U.S. The company is based in Tukwila, WA (www.continentalmills.com).
Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Sectors of interest include consumer products, light manufacturing with low capital intensity, and business services. Brynwood Partners has $500 million of capital under management. The firm was founded in 1984 and is based in Greenwich, CT (www.brynwoodpartners.com).
“We are very happy with the outcome of this transaction and on behalf of Brynwood Partners, I would like to thank the Continental Mills team as it has been a pleasure working with them,” said Ian MacTaggart, Managing Partner, Brynwood Partners.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-12-12
