News

Posted On: 03/06/2008

Greek investors buy Nonni's biscotti

FoodProcessing.com

By Nonni's Food Company

Marfin Investment Group of Athens, Greece, said March 6 its investment arm in the food and beverage sector, Vivartia SA, has an agreement to buy U.S. snack producer Nonni’s Food Co., from majority owner Wind Point Partners, a private equity firm, for $320 million. Nonni’s, headquartered in Tulsa, Okla., makes biscotti cookies and other specialty baked good products. It owns six production facilities (three in New Jersey, one in Oklahoma, one in New York and one in Tennessee) and had 2007 sales of $187 million and earnings of $32 million. The sale should close by April 1.