Who owns balance bar company

Berkeley's PowerBar Inc. Nestle USA and its parent company, Switzerland's Nestle SA , intend to use their global marketing and distribution muscle to turn PowerBar into a worldwide brand -- something privately-held PowerBar has had difficulty doing on its own. Terms of the sale were not disclosed, but one knowledgeable source indicated that the price was roughly proportionate to that of Balance Bar Co. PowerBar's founders, Brian and Jennifer Maxwell , who cooked up the first energy bars in their Berkeley kitchen in , have entertained many overtures for their fast-growing company over the years.

PowerBar also considered going public, but consumer-product stocks are currently out of favor on Wall Street, Maxwell said. Instead, PowerBar put itself up for auction and received several bids. Last Friday, two hours after Jennifer gave birth to the Maxwells' fifth child, the PowerBar board approved Nestle's offer.

The deal is expected to close in about six weeks. Founded in , Brynwood Partners, which launched the Brynwood VI fund in October , makes control investments in lower middle-market companies targeting the consumer products, light industrial manufacturing, specialty retailing and business service sectors. The company has made investments in 22 portfolio firms, including several specialty food companies such as Lincoln Snacks, DeMet's Candy Co.

As part of the merger, Brynwood Partners V acquired Turtles' ,square-foot production facility for the chocolate, caramel and nut-filled confections in Toronto, Canada. Flipz, the yogurt-covered pretzel line that Brynwood bought from Nestle in , is made at a plant in Mohnton, Pa. Employees said Brynwood demanded that Stella D'Oro's unionized employees agree to salary givebacks and that the company wanted to reduce the number of holidays and sick days. Brynwood said the sale and subsequent closure of the Stella D'Oro Bronx plant was because of its high production costs.

With a portfolio of great-tasting food crafted for athletes and active people, we have become a category leader among health and lifestyle bars. Recognizing that food is at the center of everything it does, the company places organic ingredients and organic farming at the forefront of its sustainability efforts.

From to , the company purchased million pounds of organic ingredients. How Clif Bar works is also critical to its sustainability goals. Through reduction, recycling and composting, the company diverts 85 percent of its office waste from local landfills. Employees can also opt for a flexible workweek and are encouraged to participate in volunteer opportunities during the workday.