Dec 30 Packaged food company Mondelez
International Inc has agreed to sell a controlling
interest in its SnackWell's cookie and cracker business to
private equity firm Brynwood Partners, the Wall Street Journal
Financial terms of the deal were not disclosed, but Brynwood
said it would combine SnackWell's with its Back to Nature
cookies and granola business, according to the business daily.
Mondelez will retain a significant minority stake in the
brand, under which it makes chocolate chip and devil's food cake
cookies aimed at dieters, the Journal reported on Monday.
Mondelez and Brynwood could not be reached for comment
outside of regular U.S. business hours. A Switzerland-based
spokeswoman of U.S.-based Mondelez declined to comment.
Mondelez faced criticism in July from activist investor
Nelson Peltz, who said the company did not generate as much
profit as it could and should be acquired by PepsiCo Inc
Shares of Deerfield, Illinois-based Mondelez closed at
$34.91 on Friday on the Nasdaq. The stock has risen about 17
percent to Friday's close since Peltz's comments.