Brynwood Partners has announced that its newly formed portfolio company, Buitoni Food Co., has entered into a definitive agreement to acquire the North American Buitoni business from Nestlé USA. The transaction, which includes a 240,000-square-foot manufacturing facility in Danville, Va., is expected to close within the next 30 days, subject to customary U.S. regulatory review. The terms and conditions of the deal were not disclosed.
Buitoni Food will be headquartered in Stamford, Conn., and the Danville manufacturing facility, with its approximately 525 full-time employees, will continue to support the business. Buitoni is a leading national brand in the refrigerated pasta, sauces, and cheese categories. The transaction includes the rights to the Buitoni brand in the United States, Canada, and the Caribbean territories. Buitoni Food will continue to manufacture Nestlé Toll House cookie dough products from the Danville facility under a long-term supply agreement.
“We are delighted to announce the formation of Buitoni Food Co.,” said Henk Hartong III, chairman and CEO of Brynwood Partners. “We are thrilled to add the famous Buitoni brand and its delicious pasta, sauces, and cheeses to our investment portfolio…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.”