B&G Foods Inc. (NYSE: BGS) has closed on a deal for TrueNorth brand candy.
TrueNorth makes snack nuts. Stamford, Conn.-based DeMet’s Candy Co. bought the brand from Frito-Lay North America in 2010. Terms of the deal were not disclosed.
The deal will allow DeMet’s to focus on its candy business, includes Turtles chocolate-caramel nut clusters, Flipz chocolate covered pretzels and Treasures filled chocolates. DeMet’s is owned by private equity firm Brynwood Partners, which is based in Greenwich, Conn.
B&G, headquartered in Parsippany, N.J., sells snacks, including the Maple Grove Farms, Old London and Sugar Twin brands.
Houlihan Lokey Capital Inc. served as DeMet’s financial adviser.