Mondelez Sells Controlling Interest in SnackWells Brand

GREENWICH, Conn.Mondelez Global LLC announced the sale of a controlling interest in its SnackWell's cookies and snacks business to its joint venture with the private equity firm Brynwood Partners VI L.P  for an undisclosed amount.

The joint venture, Back to Nature Foods Company, was formed by Brynwood and Mondelez Global in 2012. Brynwood acquired operating control, while Mondelez Global retained a minority position in the new company. Brynwood plans to integrate the SnackWells brand with its Back to Nature Foods range of products, including, crackers and cookies, nuts and trail mixes, granolas and juices.

SnackWell's was originally launched by Nabisco in 1992 as a line of reduced-fat and fat-free cookies and crackers. SnackWell's offers products, including Creme Sandwich Cookies, Devil's Food Cakes, Fudge Pretzels, Yogurt Pretzels and Popcorn products in portion-control sizes.

"We look forward to owning the SnackWell's brand and integrating it into our Back to Nature organization," said Vincent Fantegrossi, president and CEO of Back to Nature. "Its healthy attributes, loyal consumer base, and strong distribution make SnackWell's a very complementary product line offering to our Back to Nature products. SnackWell's is an iconic brand and we are excited about the potential that this acquisition brings to our company. SnackWell's significantly increases our scale in the important cookie and cracker categories."

Brynwood Partners has a well-established track record of reviving smaller brands or businesses that are divested from large corporations. The SnackWell's transaction marks Brynwood Partners' second transaction with Mondelez Global LLC in addition to two others with Kraft Foods, Inc., the predecessor company of Mondelez Global LLC's parent, Mondelez International, Inc.