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 percent 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.