London and Detroit, 6 December 2022: Second Nature Brands, a US-based creator of premium, nutritional and better-for-you snacks and treats, controlled by CapVest Partners LLP (“CapVest”), has completed the acquisition of Brownie Brittle from Encore Consumer Capital.
The terms of the transaction are not being disclosed.
Founded in 2012, Brownie Brittle is a category-defining brownie snack brand whose unique combination of rich flavor and thin, crunchy texture appeals strongly to growing consumer demand for premium permissibly indulgent snacks. Brownie Brittle boasts an expanding roster of retail relationships across all formats and merchandising positions, including club stores, grocery, mass market retailers, convenience stores, specialty retail and airlines.
With a heritage spanning over 140 years, Second Nature Brands is a leader in the fast-growing snacks and treats market, focusing on the nutritional and lifestyle needs of health-conscious consumers. Its brands comprise Kar’s Nuts, the #1 branded trail mix delivering better-for-you, on-the-go fueling snacks, Second Nature Snacks, a pioneer in natural, non-GMO-verified premium snacks and trail mixes created for a healthy, on-the-go lifestyle, and Sanders, the leader in premium, small-batch, kettle-cooked sea salt caramels.
Commenting on the deal, Victor Mehren, CEO of Second Nature Brands, said: “We have ambitious plans to become a US leader in snacks and treats and the acquisition of Brownie Brittle is an exciting step on this journey, which expands our presence into baking and unlocks a new growth stream for us. It also marks our first acquisition since being acquired by our majority investor CapVest, showing how with their support we intend to grow and develop Second Nature Brands through continued investment in the brand, channel & category expansion, as well as continued focus on product quality.”
Othmane Khelladi, Partner at CapVest, added: “Brownie Brittle is a fantastic addition to the Second Nature Brands portfolio and a great first step in our plan to transform the business into a highly diversified US snacking platform. We are thrilled to support Second Nature Brands in their next phase of growth and to work with the team to expand their portfolio into adjacent and complimentary snacking categories.”
Jan Grywczynski, CEO of Brownie Brittle, commented: “This announcement is a very positive reflection on our business, our people and the strength of the Brownie Brittle brand. Second Nature Brands was attracted by the incredible growth that Brownie Brittle has demonstrated historically, as well as strong brand value and great product quality. We are very excited about this new chapter for Brownie Brittle, as part of the Second Nature Brands family, and look forward to working with Victor and the rest of the Second Nature team to accelerate our growth as a leader in thin, sweet, permissibly indulgent snacking.”
About Second Nature Brands
Second Nature Brands is a leading creator of snacks and treats that make lives better, naturally. By investing in new product development, thoughtful ingredient sourcing, and innovative business processes, Second Nature Brands is reimagining premium and better-for-you snacks and treats. Under its growing family of brands, Kar’s Nuts®, Second Nature Snacks®, and Sanders Chocolates®, Second Nature Brands has an extensive distribution network across the United States and a growing direct-to-consumer eCommerce presence.
About Brownie Brittle
Brownie Brittle, LLC sells baking and innovative brownie products across club stores, grocery, mass market retailers, convenience stores, specialty retail and airlines. Brownie Brittle snacks are available in tens of thousands of stores in the US, Canada, Mexico, Korea, Japan, Australia, and the Caribbean.
About CapVest
CapVest is a leading international private equity investor that partners with ambitious companies supplying essential goods and services to transform their businesses. As an active and patient investor, CapVest has established a strong record of success in delivering attractive returns by working closely with management in transforming the size and scale of its portfolio companies through a combination of organic and acquisition led growth. For more information, visit www.capvest.co.uk
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