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B&G Foods Inc., Parsippany, N.J., purchased DeMet’s Candy Co.’s TrueNorth nut cluster brand, effective May 6. Terms and conditions of the transaction were not disclosed.
“We are delighted to welcome TrueNorth to the B&G Foods family,” says David L. Wenner, president and CEO of B&G Foods. “TrueNorth, which offers a 100% natural snacking experience, is the first addition to our snacks portfolio we entered the category last October by acquiring the New York Style, Old London, JJ Flats and Devonsheer brands.”
Brynwood Partners, the majority owner of Stamford, Conn.-based DeMet’s Candy, says the divesture of TrueNorth allows DeMet to focus on its core products, which include Turtles chocolate-caramel nut clusters, Flipz chocolate-coated pretzels and Treasures chocolates.
B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of stable foods across the United States, Canada and Puerto Rico. It also sells and distributes two branded household products.
Source: New York Business Journal