Dec 27 Private equity firm Brynwood Partners
said it will sell its stake in DeMet's Candy Company, the U.S.
maker of Flipz chocolate pretzels and Turtles covered nut
clusters, to Turkey's Yildiz Holdings for $221 million.
Brynwood formed DeMet's Candy in 2007 to consolidate its
confectionary brands including Turtles, Flipz and Treasures milk
chocolates acquired from Nestle SA.
Brynwood, The owner of Zest soaps and Soft & Dri deodorants,
will also sell two U.S. manufacturing facilities as part of the
Yildiz, Turkey's largest food group, owns the family-run
biscuit company Ulker and premium chocolate maker
The company earlier this year bought Spanish discount
retailer Dia's Turkish operation DiaSA for 136.5
Houlihan Lokey Capital Inc served as the investment adviser
to DeMet's Candy, Brynwood said in a statement.
The news of the sale was first reported by the Wall Street