A managing director from the firm that handled the spinoff of the Buitoni refrigerated pasta business from Nestlé will become the new company’s CEO.
Peter Wilson is a managing director at Brynwood Partners, which describes itself as “a consumer-focused lower middle market private equity fund.” Wilson will be the CEO of Buitoni Foods, recently sold off by Nestlé in a deal handled by Brynwood. Before joining Brynwood, Peter was president and CEO of Brynwood's portfolio companies, including DeMet's Candy Company and Balance Bar Company. He was also responsible for the oversight of the operation of Joseph Frozen Foods, which was divested by Brynwood in 2019.
“With Brynwood's support, I am honored to lead this management team as we innovate and build on the famous Buitoni foundation of great tasting, authentic, high quality foods while leveraging the capabilities of our Danville, Va., facility," Wilson said in a statement.
The terms of the spinoff were not announced, but Buitoni, a maker of refrigerated pasta and sauces, has North American business estimated at $115 million. The Danville facility, which employs 525, will continue to make Nestlé Toll House Cookies on a contract basis. Brynwood has handled seven other spinoffs for Nestlé.
