Parsippany, NJ — Brynwood Partners V L.P.’s DeMet’s Candy Co. has sold its TrueNorth brand of nut clusters to B&G Foods, Inc. after DeMet’s acquired the brand in 2010 from PepsiCo’s Frito-Lay. The terms of the agreement were not disclosed.
B&G Foods President and CEO David L. Wenner says: “TrueNorth is the first addition to our snacks portfolio since we entered the category last October by acquiring New York Style, Old London, JJ Flats and Devonsheer brands.”
Under DeMet’s ownership, the brand gained club and mass distribution and new flavors were introduced.
Peter Wilson, DeMet’s vice-chairman, adds: “The divestiture of the TrueNorth brand allows DeMet’s to focus on its core confectionery products, including Turtles chocolate-caramel nut clusters, Flipz chocolate covered pretzels and Treaures filled chocolates.”