Private equity firm Brynwood Partners announced Tuesday that its newly-formed portfolio company, Buitoni Food Company, will acquire the North American Buitoni pasta business from Nestlé USA for an undisclosed amount.
According to the New York times, Buitoni North America had 2019 total sales of $130 million, while the deal is valued at $115 million. The acquisition, expected to close within 30 days, includes Buitoni's 240,000-square-foot manufacturing facility in Danville, VA and its 525 full-time employees.
Buitoni is a national brand in the refrigerated pasta, sauces and cheese categories. 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 facility under a long-term supply agreement.
The acquisition marks the eighth transaction Brynwood has completed with Nestlé. Since 2003, Brynwood has acquired the Flipz, DeMet's Turtles, Treasures, Stixx, Juicy Juice, Bit O Honey, Nutrament and Joseph's Gourmet Pasta brands from Nestlé.