Appetite for Food Companies Drives B2C Non-Durables Exits
September 06, 2012
Pretzel Crisps | Snack Factory
VMG Partners has agreed to sell Snack Factory to Snyder's-Lance (NASDAQ: LNCE) for $340 million in cash, including approximately $60 million of net present value of future tax benefits. Snack Factory is the company behind Pretzel Crisps, a brand of flat pretzel-shaped crackers. VMG invested in the company in 2009.
Private equity investors have sold or taken public 97 U.S. companies in the Consumer Non-Durables industry, since the beginning of 2008, according to the PitchBook Platform, and there's a particularly strong appetite in the industry for PE-backed food companies. Food Products transactions make up the bulk of the Non-Durables exit activity. The sector accounts for 69% of the exits so far this year, up from a 48% share of the activity in 2011.
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