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STAMFORD, Conn. -- DeMet’s Candy Co. has dotted the "I’s" and crossed the "T’s" on its acquisition of TrueNorth nut snack brand from Frito-Lay North America, a division of PepsiCo. With the deal complete, TrueNorth joins a product line-up that includes DeMet’s Turtles, DeMet’s Flipz, DeMet’s Treasures and DeMet’s Stixx.
"DeMet’s is pleased to welcome the TrueNorth products to its family of brands," said David D. Clarke, president and chief executive officer of DeMet’s. "These high-quality, all-natural products will provide DeMet’s with many new avenues for growth and innovation both in market segments that TrueNorth presently competes in as well as in new ones."
DeMet’s is owned by Brynwood Partners V LP, a Greenwich, Conn.-based private equity fund. "We are very pleased to have completed our first transaction with PepsiCo," added Hendrik J. Hartong III, chairman of DeMet’s and senior managing partner of Brynwood Partners. "We remain very active investors in the food sector and we are excited to add the TrueNorth brand to our successful investment in DeMet’s."