|Continental Mills, Inc. Purchases Sun Country Foods, Inc. Including
The Kretschmer® Wheat Germ Brand
Tukwila, WA (December 11, 2012)– Continental Mills, Inc. has acquired Sun Country Foods, Inc., headquartered in Norwood, Massachusetts, from Brynwood Partners VI L.P., including the iconic Kretschmer® Wheat Germ brand and a manufacturing facility located in Manhattan, Kansas. The terms and conditions of the transaction were not disclosed.
The Kretschmer® brand was founded in 1936 by Charles Kretschmer, and now has a 90% 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® brand.
John Heily, President and CEO of Continental Mills, said “The purchase of Sun Country Foods and the Kretschmer® Wheat Germ brand are very much aligned with our core product lines. We are very interested in investing in our branded business and this is a great health oriented food that has been a mainstay in the health category of products for many years. We are excited to add these high quality products to our core lines of Krusteaz® pancake and baking mixes, Ghirardelli® brownie and cookie mixes, and most recently WildRoots® all natural trail mixes and grain blends, as well as other labels that we currently own.”
“We are delighted to announce the divestiture of Sun Country Foods, Brynwood VI’s second portfolio company divestiture 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 and wish Continental Mills much success with this great brand.”
About Continental Mills, Inc.
Piper Jaffray acted as the exclusive financial advisor to Continental Mills. Sun Country Foods was not represented by an investment banker on this transaction.