Dr. August Oetker buys Wilton Brands

Wilton Brands, a baking, cake decorating, and candy making brand, has announced that an affiliate of TowerBrook Capital Partners L.P., Wilton Brands’ private equity owner, has entered into an agreement to sell Wilton Brands to Dr. August Oetker KG.

Dr. Oetker is a German-based, privately held, global multibillion dollar industry leader in food and beverage that includes baking products and baked goods. In addition to the Dr. Oetker brand, the company owns multiple well-established baking and dessert brands in more than 35 countries.

“The acquisition of Wilton means the expansion of our position in the large and interesting U.S. market for baking and decorating,” said Albert Christmann, chairman of the board of management of Dr. Oetker. “For American consumers, the Wilton brand has been synonymous with home baking and the creative decorating of cakes, pies, and baked goods for almost 90 years. With its product portfolio and strong brand, Wilton fits well with Dr. Oetker.”

Wilton Brands was acquired by investment funds managed by TowerBrook Capital Partners L.P. in 2009, and under CEO Sue Buchta’s leadership has refocused the business on its baking and food core while successfully divesting non-core businesses. Wilton and its employees will remain headquartered in Naperville, Ill., and will be run as a division within the broad portfolio of companies owned by Dr. Oetker. Buchta will remain in her role as CEO.

The transaction is expected to close before the end of the year.