|By PR Newswire||
|December 11, 2012 08:01 AM EST||
GREENWICH, Conn., Dec. 11, 2012 /PRNewswire/ -- Brynwood Partners VI L.P. announced that it has sold its investment in Sun Country Foods, Inc. to Continental Mills, Inc. The transaction closed yesterday and the terms and conditions were not disclosed.
Sun Country Foods, headquartered in Norwood, Massachusetts with a manufacturing facility in Manhattan, Kansas, manufactures and markets the iconic Kretschmer® Wheat Germ brand. Founded in 1936 by Charles Kretschmer, the brand has a 90% market share in the U.S. wheat germ category and is offered in two flavors: Original Toasted and Honey Crunch. Sun Country Foods was formed by Brynwood VI in 2011 to acquire the Kretschmer® Wheat Germ brand from The Quaker Oats Company.
"We are delighted to announce the divestiture of Sun Country Foods, Brynwood VI's second portfolio company sale in the last month," said Hendrik J. 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."
"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 B. MacTaggart, Managing Partner, Brynwood Partners.
Sun Country Foods was not represented by an investment banker on this transaction.
About Brynwood Partners:
Founded in 1984 and headquartered in Greenwich, Connecticut, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the following sectors: (a) consumer products, (b) light manufacturing with low capital intensity and (c) business services.
Brynwood Partners is currently managing over $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.
About Sun Country Foods, Inc.:
Sun Country Foods, Inc., headquartered in Norwood, Massachusetts, was formed by Brynwood Partners VI L.P. in November 2011 to acquire the Kretschmer® Wheat Germ brand and its Manhattan, Kansas manufacturing facility from The Quaker Oats Company. For more information on Sun Country Foods, please visit www.suncountryfoodsinc.com.
About Continental Mills, Inc.:
Continental Mills, Inc. is a privately held manufacturer and marketer of prepared flour mixes and related products, located in Tukwila, Washington. The company has strong branded products sold primarily under its Krusteaz® trademark and several licensed brands. The company's products are sold through retail, foodservice, and club store channels throughout the U.S. For more information on Continental Mills, please visit www.continentalmills.com.
SOURCE Brynwood Partners
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