Multinational food and drinks giant Nestle, has announced the sale of its pasta brand Buitoni to private equity firm Brynwood Partners for an undisclosed sum.
The acquisition includes the rights of the brand to sell in the US, Canada, and Caribbean territories along with a 240,000 square foot processing facility located in Virginia.
Henk Hartong III, chairman and CEO of Brynwood Partners, said: “We are thrilled to add the famous Buitoni brand and its delicious pasta, sauces, and cheeses to our investment portfolio”.
He added, “The Danville, VA 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. We look forward to innovating and growing the Buitoni brand as more consumers seek out high quality meals that can be easily prepared at home”.