Kraft Foods selling its Balance Bar business
Kraft Foods has agreed to sell its Balance Bar business to Brynwood Partners of Greenwich, Connecticut. The transaction is expected to close on November 21, 2009. The new company plans to operate as Balance Bar Company.
Kraft Foods will continue to distribute, provide HQ/retail coverage and manage the Balance Bar business for an extended period of time post-closing through a transition services agreement with Brynwood Partners. Kraft Foods will provide these services using either the Kraft Foods sales organization or Acosta Marketing and Sales, as we currently do, to ensure no interruption to the business.