Second Nature Brands, controlled by CapVest Partners LLP, has completed the acquisition of Brownie Brittle from Encore Consumer Capital. The terms of the transaction are not being disclosed.
Founded in 2012, Brownie Brittle is a category-defining brownie snack brand with an expanding roster of retail relationships across all formats and merchandising positions, including club stores, grocery, mass market retailers, convenience stores, specialty retail and airlines.
With a heritage spanning over 140 years, US-based Second Nature Brands is a leader in the fast-growing snacks and treats market, focusing on the nutritional and lifestyle needs of health-conscious consumers. Its brands comprise Kar’s Nuts, Second Nature Snacks, and Sanders.
Commenting on the deal, Victor Mehren, CEO of Second Nature Brands, said: “We have ambitious plans to become a US leader in snacks and treats and the acquisition of Brownie Brittle is an exciting step on this journey, which expands our presence into baking and unlocks a new growth stream for us.
“It also marks our first acquisition since being acquired by our majority investor CapVest, showing how with their support we intend to grow and develop Second Nature Brands through continued investment in the brand, channel & category expansion, as well as continued focus on product quality.”
Othmane Khelladi, partner at CapVest, added: “Brownie Brittle is a fantastic addition to the Second Nature Brands portfolio and a great first step in our plan to transform the business into a highly diversified US snacking platform. We are thrilled to support Second Nature Brands in their next phase of growth and to work with the team to expand their portfolio into adjacent and complimentary snacking categories.”
Jan Grywczynski, CEO of Brownie Brittle, said: “This announcement is a very positive reflection on our business, our people and the strength of the Brownie Brittle brand. Second Nature Brands was attracted by the incredible growth that Brownie Brittle has demonstrated historically, as well as strong brand value and great product quality.
“We are very excited about this new chapter for Brownie Brittle, as part of the Second Nature Brands family, and look forward to working with Victor and the rest of the Second Nature team to accelerate our growth as a leader in thin, sweet, permissibly indulgent snacking.”