Westfair 6/10/20: Brynwood Partners VIII LP, a Greenwich-based private equity firm, has acquired the North American Buitoni business from Nestlé USA Inc. The terms of the transaction were not disclosed.
Brynwood has created a Buitoni Food Co. subsidiary to continue the production and sale of the brand’s refrigerated pasta, sauces and cheeses in the U.S., Canada and Caribbean markets. Buitoni Food Co. will be headquartered in Stamford and will continue operating its 240,000-square-foot manufacturing facility in Danville, Virginia, which employs 525 full-time workers.
The company will also continue to manufacture Nestlé Toll House cookie dough products from the Danville facility under a long-term supply agreement with Nestlé USA.
“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 pastas, sauces and cheeses to our investment portfolio. Buitoni has a rich history and Italian heritage that has delighted consumers for over 100 years. The Danville, Virginia, 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.”