Dive Brief:
- Nestle has agreed to sell Joseph's frozen-pasta business to Brynwood Partners. Terms of the deal were not disclosed.
- Joseph's, based in Haverhill, Mass., provides ravioli, tortellini and manicotti to restaurants.
- Brynwood said it may try to expand Joseph's pastas to retail, possibly as a private-label offering.
Dive Insight:
There's nothing surprising in today's news. Nestle has been quite clear quite often about its plans to cast off non-core brands. That's one of the things companies do when they enter the "early bureaucracy" life stage of a corporation.
What is surprising, however, is the sheer number of deals that Brynwood Partners has made in recent months. The private equity firm seems to be making a nice living by picking up the refuse of early bureaucracy conglomerates such as Mondelez, ConAgra and, on at least five previous occasions, Nestle.