New company acquires Turtles brand, production facility.(NEWS)

Candy & Snack Business, July, 2007

GREENWICH, CT -- Nestle USA, Inc. sold its 100-year-old Turtles brand and U.S. marketing rights to the newly formed DeMet's Candy Co. In a separate deal, DeMet's will acquire the brand's Toronto production facility from Nestle Canada. The new company will supply Nestle Canada with Turtles and other items as part of a long-term contract.

DeMet's is owned by Brynwood Partners V LP, which also operates Signature Snacks Co., producer of Flipz coated pretzels, another former Nestle property. The investment company's other food holdings include Stella D'oro Biscuit Co., Inc. and Richelieu Foods, Inc. Brynwood executives say Signature will be merged into DeMet's and headquartered in Stamford, CT.

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David D. Clarke, president...

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