Mondelez Sells Snackwell's Business

DEERFIELD, Ill. -- Mondelez International Inc. sold its SnackWell's cookies and snacks business to Back to Nature Foods Co. LLC, a company under the umbrella of Brynwood Partners VI LP. Terms of the agreement were not released.

Back to Nature Foods was formed in 2012 and sells crackers, cookies, nuts and trail mixes. Mondelez owns a minority stake in Back to Nature via its Mondelez Global subsidiary.

"Snackwell's significantly increases our scale in the important cookie and cracker categories," Back to Nature CEO Vincent Fantegrossi said in a statement.

SnackWell's -- first launched in 1992 by Nabisco Inc. -- offers reduced-fat and fat-free foods aimed at dieters, including cookies and crackers

Deerfield, Ill.-based Mondelez International Inc. was spun off from Kraft Foods Group Inc. a year ago.