|Hendrik (Henk) J. Hartong, Jr.|
|Products||Leveraged buyout, Growth capital|
|Total assets||$250 million|
Since its founding in 1984, the firm, headquartered in Greenwich, Connecticut, has raised five investment funds, including a $250 million fund in 2005. Through these funds, the company owns firms and brands including DeMet's Candy Co. (Stixx, Pretzel Flipz), Balance Bar, Richelieu Foods (Turtles, etc.), and Pearson's Candy Company (Nut Goodie, Salted Nut Roll, Mint Patties, Bun Bars and Bit-O-Honey).
The company's managing partners include Hendrik (Henk) J. Hartong, Jr. (Co-founder), who had managed Air Express International in the mid-1980s until its $1.15 billion acquisition by Deutsche Post in 1999. Other managing partners include Hendrik J. Hartong III, Ian B MacTaggart, Dario U. Margve, Kevin C. Hartnett, Joan Y. Mccabe and Nicholas DiCarlo (CFO).
In 1988, Brynwood Partners purchased Richelieu Foods, a supplier of private-label food products and frozen pizzas. The company produces over 50 million frozen pizzas and more than 20 million finished crusts annually, reporting more than $200 million in yearly sales, and producing private label products for companies including Aldi, Save-A-Lot, Shaw's Supermarkets, Hannaford Brothers Co., BJ's Wholesale Club and Sam's Club.
In 2004, Brynwood acquired New York-based freight forwarder IJS Global Inc.
DeMet's Candy Company
In 2007, Brynwood bought the "Turtles" brand from Nestle USA Inc., acquiring at the same time the 280,000-square-foot (26,000 m2) Turtles production facility in Toronto, Canada — merging the acquisition with a company it owned at the time, Signature Snacks Company.
Subsequently that year Brynwood consolidated its portfolio of confectionary acquisitions, which included Stixx, FLIPZ chocolate covered pretzels, Treasures and Turtles, resurrecting the dormant DeMet's Candy Company name. DeMet's began started in 1898 as a candy store business and soda fountain shop by George DeMet of Chicago — subsequently creating Turtles candies. After a series of mergers and acquisitions DeMet’s was purchased by Nestlé in 1988. In 2007, Signature Snacks, then owned by Brynwood, acquired the DeMet’s brand from Nestlé. Former Nestlé USA executive Hendrik Hartong III is chairman of the company. In 2013, Brynwood sold the company to Yıldız Holding.
In 2006, Brynwood bought Stella D'Oro Biscuit Co. from Kraft Foods. On August 4, 2008, workers of the Bakery, Confectionery, Tobacco Workers and Grain Millers' International Union went on strike citing proposed pay and benefit cuts and later picketed the company's attempt to bring in replacement workers.
After more than 11 months on strike, the company was required by a court ruling to reinstate the workers. However, shortly thereafter, the company announced in July 2009 that it would close the Kingsbridge, Bronx facility. In September 2009, Brynwood announced the sale of Stella D'Oro to Lance Inc., a large manufacturer of snack foods, which intended to relocate Stella D'Oro's production to a non-union facility in Ashland, Ohio.
Brynwood received negative attention for its role in the work stoppage and sale of Stella d'Oro, including a reference in an op-ed piece by the AFL-CIO's Richard Trumka, published in the Wall Street Journal in April 2010.
In 2011, Brynwood acquired Pearson's Candy Company, which was founded in 1909 in Saint Paul, Minnesota. One of the world's 100 largest confectionary companies, Pearson's makes Pearson's Mints, Salted Nut Rolls, Nut Goodies, Bun Bars and Bit-O-Honey.
- "Richelieu Foods Acquires Sara Lee’s Sauces and Dressings Foodservice Business". Richelieu Foods Press Release, September 2, 2008.
- "Private Equity Firm Buys Balance Bar Brand From Kraft Foods". Soyatech.com, Connecticut Post, December 6, 2009.
- "BUSINESS PEOPLE; Revived Air Express Picks Chief Executive". The New York Times, Daniel Cuff, January 10, 1989. January 10, 1989.
- "Richelieu experiences hiring boom, starts expansion". WCFcourier.com, RC Balaban, August 27, 2006.
- "There's new appetite for peddlers of cheap eats". Boston Business Journal, Feb 23, 2009, Lisa van der Pool. February 23, 2009.
- "It Takes Two Working in tandem, Richelieu Foods’ pizza plants in Ohio and Wisconsin are a productivity powerhouse.". Refrigeratedfrozenfood.com.
- "AEI Execs Team IJS". Air Cargo Magazine, November 18, 2005, Vol.4 No. 123.
- "40-30-30: It Isn’t Some Kind Of Debt/Equity Metric". The Wall Street Journal, Beina Xu, Nov 23, 2009. November 23, 2009.
- Brynwood Partners to Sell Maker of Turtles Candy
- Kraft Says Arrivederci to Stella D'Oro. Billboard
- Kosman, Josh (May 10, 2009). "Not the Original Recipe". The New York Post, John Koshman, May 10, 2009.
- "Stella D’oro Factory to Close in October". The New York Times, July 6, 2009, Jennifer Lee. July 6, 2009.
- "Buyer Said to Emerge for Brynwood’s Stella D’Oro". The New York Times, August 21, 2009. August 21, 2009.
- "No Sweets When Striking the Cookie Factory". The New York Times, Marc Santora, December 26, 2008. December 27, 2008.
- "Brynwood considers options for Stella D'oro". Greenwich Times, Richard Lee, September 1, 2009.
- Stella D'Oro protesters lean on Goldman Sachs. New York Daily News, September 29th 2009
- A Last Batch at a Bakery in the Bronx. New York Times, October 6, 2009
- "OP-ED: It's Time to Restrict Private Equity, Too often employees are the losers in leveraged buyouts". The Wall Street Journal, April 13, 2010, Richard Trumka. April 13, 2010.
- "St. Paul's Pearson's Candy Co. sold". Kare 11 (Gannett). August 22, 2011. Retrieved December 29, 2011.
- Rogers, Paul (January 1, 2003). "Income generation gap. (Top 100 Global Confectionery Companies)". Candy Industry (The Gale Group, Inc.). Retrieved 2008-03-19.
- "Brynwood adds Coast soaps, Soft & Dri deodorant, to portfolio", Connecticut Post, April 20, 2012
- "Focus On The Consumer: Q&A With Brynwood Partners". The Wall Street Journal, Beina Xu, 6/30/2009. June 30, 2009.