Nestlé USA is selling its refrigerated pasta, sauces and cheese-focussed North American Buitoni Business to the Buitoni Food Company, a newly-formed portfolio company under Brynwood Partners.
Buitoni Food Company will be headquartered in Stamford, CT and the Danville, VA manufacturing facility, with its approximately 525 full-time employees, will continue to support the business. The deal includes a 240,000 sq ft manufacturing facility in Danville, VA.
The transaction includes the rights to the Buitoni brand in the US, Canada and the Caribbean territories. Buitoni Food Company will continue to manufacture Nestlé Toll House cookie dough products from the Danville, VA facility under a long-term supply agreement.
“We are delighted to announce the formation of Buitoni Food Company,” said Henk Hartong III, Chairman and CEO of Brynwood Partners. “We are thrilled to add the famous Buitoni brand, and its delicious pastas, sauces and cheeses to our investment portfolio. Buitoni has a rich history and Italian heritage that has delighted consumers for over 100 years.
“The Danville, VA facility will enable us to quickly invest in new culinary and eating trends so that we can build on the strong foundation of current Buitoni offerings. We look forward to innovating and growing the Buitoni brand as more consumers seek out high quality meals that can be easily prepared at home.”
The transaction is expected to close within the next 30 days, subject to customary US regulatory review. Terms and conditions of the deal are not being disclosed.