Brynwood Partners VI L.P. announced that it has sold its portfolio company, Balance Bar Company, to NBTY Inc., a global leader in vitamins, supplements and active nutrition products and a portfolio company of The Carlyle Group.
Balance Bar, founded in 1992, and acquired by Brynwood VI from Kraft Foods, Inc. in 2009, has been an innovator in the nutrition/energy bar category. The Company, which is headquartered in Valhalla, N.Y., is one of the leading brands in the high growth $1 billion nutrition/energy bar category. Balance Bar enjoys a strong and loyal consumer following and has some of the most recognized bars in the industry. Balance Bar products offer a unique combination of great taste and lasting energy through balanced nutrition.
"We are delighted to announce the divestiture of Balance Bar, which was our first investment in our most recent fund, Brynwood VI," said Hendrik J. Hartong III, chairman, Balance Bar, and senior managing partner, Brynwood Partners. "We are grateful to all of the Balance Bar employees for their hard work and dedication to the business. We wish NBTY continued success with this great brand."
"On behalf of Brynwood Partners, I would like to thank the Carlyle and NBTY teams for their efforts in completing this transaction. We have enjoyed the relationship," said Ian B. MacTaggart, managing partner, Brynwood Partners.
Houlihan Lokey Capital Inc. served as the investment banking advisor to Balance Bar.