Dr. Oetker has acquired US-based cake decorating business Wilton Brands from TowerBrook Capital Partners for an undisclosed sum.
Wilton Brands manufactures and distributes ingredients, bakeware and decorating equipment for US consumers, and the company was acquired by TowerBrook in 2009.
Wilton and its employees will remain headquartered in Naperville, Illinois and operate as an independent unit within Dr. Oetker’s portfolio of brands, and the company’s current CEO Sue Buchta will retain her position.
The deal is expected to close at the end of the year, and Dr. Oetker claims that the purchase will significantly enhance its position in the US baking and decorating segment.
Albert Christmann, chairman of the board at Dr. Oetker said: “The acquisition of Wilton means the expansion of our position in the large and interesting US market for baking and decorating.
“For American consumers, the Wilton brand has been synonymous with home baking and the creative decorating of cakes, pies and baked goods for almost 90 years.
“With its product portfolio and strong brand, Wilton fits well with Dr. Oetker. Wilton also is very progressively positioned in terms of the use of digital brand management. Dr. Oetker’s entire organization will benefit from this expertise.”
Wilton Brands CEO Sue Buchta added: “Wilton is passionate about bringing the love of baking and decorating to everyone, everywhere, every day through quality products that make baking and decorating fun and easy.
“I could not imagine a better owner for Wilton Brands. The opportunity to draw on both companies’ strengths, combined knowledge and commitment to the category will position us to innovate and grow more quickly, benefitting our customers, our retail partners and our employees.
“This is a proud and exciting milestone in Wilton’s 89-year history as a trusted name in baking.”
© FoodBev Media Ltd 2019