Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Back to Nature Foods Company, LLC (Back to Nature), a joint venture between Brynwood Partners VI L.P. and Mondelēz International Inc., has agreed to be acquired by B&G Foods Inc. (NYSE:BGS) for $162.5 million in cash. The transaction is expected to close during the third quarter of 2017.
This deal represents another successful transaction for Houlihan Lokey in the food & beverage industry.
Back to Nature has been a pioneer in the better-for-you snack foods category, and its namesake brand is a leading cookie and cracker brand in the category. Back to Nature's product offerings include Non-GMO Project Verified, organic, and gluten-free products. Back to Nature products represent a wide range of categories, including cookies, crackers, nuts and trail mixes, granola, juices, soups, and cereals. Back to Nature also offers the SnackWell's brand of low-fat and no-fat snacks.
Brynwood Partners, founded in 1984 and based in Greenwich, Connecticut, is an operationally focused private equity firm that makes control investments in North America-based lower-middle-market companies in the consumer sector. Brynwood Partners currently manages more than $725 million of private equity capital for its limited partners, which include U.S. and international pension funds, funds of funds, endowments, high-net-worth family investment offices, and financial institutions.
B&G Foods and its subsidiaries manufacture, sell, and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada, and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods' products are marketed under many recognized brands, including Ac'cent, B&G, B&M, Baker's Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary's, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril's, Grandma's Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald's, Mama Mary's, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate's Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone's, Trappey's, TrueNorth, Underwood, Vermont Maid, Victoria, Weber, and Wright's. B&G Foods also sells and distributes Static Guard, a household product brand.