LONDON - The food giant Nestlé is selling Joseph’s Pasta, a Massachusetts maker of frozen pastas, to the buyout firm Brynwood Partners.
The deal is the latest sale by the Swiss company, which is trimming its brand offerings as part of an effort to focus on more profitable business lines. Terms of the transaction were not disclosed.
“Joseph’s manufactures delicious and unique products in its state-of-the-art manufacturing facility,†said Henk Hartong, senior managing partner at Brynwood Partners. “We are excited about the opportunity to accelerate innovation and explore new distribution channels.â€
Nestlé acquired Joseph’s Pasta in 2006. The company, based in Haverhill, Mass., employs 300 people and makes a variety of frozen pasta, including ravioli, tortellini and manicotti.
Nestlé, the maker of Kit Kat chocolate bars, Nespresso coffee and Purina dog and cat food, has sold several of its brands over the last year as it looks to pare its offerings.
Last year, Nestlé’s chief executive, Paul Bulcke, said the company planned to sell some of its underperforming brands.
In December, Nestlé said it was selling its 10 percent stake in Givaudan, the Swiss flavors and fragrance company.
In November, the company agreed to sell its Jenny Craig brand in North America, Australia, New Zealand and parts of the Pacific to a private equity firm, North Castle Partners, for an undisclosed amount.
The company also sold an Australian ice cream brand in June and two French bottled water brands in July.
The Joseph’s Pasta deal is the latest transaction between Nestlé and Brynwood, which acquired the Bit-O-Honey candy brand last year through one of its portfolio companies, Pearson Candy.
The buyout firm will use its newest fund, which has $400 million in capital, to finance the transaction.
Brynwood’s portfolio also includes Back to Nature Food, which recently acquired the SnackWell healthy cookie brand.
Last month, Brynwood agreed to sell DeMet’s Candy, the maker of Turtles and Flipz, both former Nestlé brands, to Yildiz Holding, the owner of Godiva chocolate, for $221 million.
