GREENWICH, CONN. — Private equity fund Brynwood Partners VI L.P. has acquired Balance Bar Co. from Northfield, Ill.-based Kraft Foods Inc. Financial terms of the transaction were not disclosed.
Brynwood, whose prior food investments include Lincoln Snacks, Signature Snacks, DeMet’s Candy Co. and Richelieu Foods, said it will base Balance Bar in the Northeast and has recruited a management team to run the business.
"Balance Bar is a great brand with a very loyal consumer following," said Hendrik J. Hartong III, senior managing partner of Brynwood and newly named chairman of Balance Bar. "We plan to increase the focus on the brand and expand the business through increased marketing and new product innovation."
Kraft Foods acquired Balance Bar in 2000 for $268 million. The company was founded in 1992 as Bio Foods Inc. before taking on the Balance Bar name in 1998 when it became a public company. It offers a full range of nutrition/energy bars, including Balance Original, Balance Gold, Balance Pure, Balance Bare and Balance Carb Well.