M&A Deal Summary

Second Nature Brands Acquires Brownie Brittle

On December 6, 2022, Second Nature Brands acquired food company Brownie Brittle from Encore Consumer Capital

Acquisition Highlights
  • This is Second Nature Brands’ 2nd transaction in the Food sector.
  • This is Second Nature Brands’ 2nd transaction in the United States.
  • This is Second Nature Brands’ 1st transaction in Florida.

M&A Deal Summary
Date 2022-12-06
Target Brownie Brittle
Sector Food
Buyer(s) Second Nature Brands
Sellers(s) Encore Consumer Capital
Deal Type Add-on Acquisition

Target

Brownie Brittle

West Palm Beach, Florida, United States
Brownie Brittle sells baking and innovative brownie products across club stores, grocery, mass market retailers, convenience stores, specialty retail, and airlines. Its snacks are available in tens of thousands of stores in the US, Canada, Mexico, Korea, Japan, Australia, and the Caribbean. Brownie Brittle was formed in 1992 and is based in West Palm Beach, Florida.

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Buyer(S) 1

Buyer

Second Nature Brands

Madison Heights, Michigan, United States
Category Company
Sector Food
DESCRIPTION

Second Nature Brands is a creator of snacks and treats that make lives better, naturally. By investing in new product development, thoughtful ingredient sourcing, and innovative business processes, Second Nature Brands is reimagining premium and better-for-you snacks and treats. Under its growing family of brands, Kar's Nuts, Second Nature Snacks, and Sanders Chocolates, Second Nature Brands has an extensive distribution network across the United States and a growing direct-to-consumer eCommerce presence. Second Nature Brands is based in Madison Heights, Michigan.

DEAL STATS #
Overall 2 of 4
Sector (Food) 2 of 4
Type (Add-on Acquisition) 2 of 2
State (Florida) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-24 Sanders Candy

Clinton Township, Michigan, United States

Morley Candy Makers, Inc. is a maker of premium confectionary products sold under the Sanders Fine Chocolatiers® brand. Today, Sanders has grown into a nationally recognized producer of premium confections, artisanal chocolates, baked goods, dessert toppings and ice cream. Sanders® products are currently sold in leading retailers nationally. It also operates eight Sanders Chocolate & Ice Cream Shoppes in Metro Detroit, Mackinac City, and Mackinac Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-27 Sahale

Seattle, Washington, United States

Sahale is a manufacturer and marketer of premium, branded nut and fruit snack mixes, sold across the US and internationally under the Sahale Snacks brand. Sahale was formed in 2003 and is based in Seattle, Washington.

Buy $34M

Seller(S) 1

SELLER

Encore Consumer Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 600M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Encore Consumer Capital is a specialist private equity firm focused on the food and consumer products industries. Specific areas of interest include food and beverage, health and beauty care, pet, automotive aftermarket, infant and children's products, and leisure products. Encore prefers companies in revenues of $10 - $100 million. It looks to invest $5 - $40 million. Encore generally invests in control situations but will consider select minority investments. Encore will not invest in restaurant-only or retail-only companies. Encore operates in partnership with Encore Associates, a strategic advisory firm. Encore Consumer Capital was formed in 2005 and is based in San Francisco.

DEAL STATS #
Overall 19 of 22
Sector (Food) 7 of 9
Type (Add-on Acquisition) 16 of 18
State (Florida) 2 of 2
Country (United States) 18 of 21
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 4505 Meats

San Francisco, California, United States

4505 Meats is a producer of premium meat snacks, selling antibiotic-free pork rinds and cracklings. 4505 Meats produces humanely raised, antibiotic- and hormone-free pork rinds, first developed in Farr’s apartment kitchen. 4505 Meats was founded in 2009 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-21 KYLA

Hood River, Oregon, United States

KYLA is a brand of alcoholic kombucha that was developed as a low-calorie, low-sugar, gluten-free, shelf-stable, and craft alcoholic beverage with a refreshing taste profile. KYLA is based in Hood River, Oregon.

Sell -
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