Dr. August Oetker, a privately-held German company within the food and beverage market, is set to acquire Wilton Brands from TowerBrook Capital Partners. The transaction is expected to close before the end of the year, but other financial information has not been disclosed.
According to a statement made by Wilton, the company will remain headquartered in Naperville, IL, and will be run as a division within the broad portfolio of companies owned by Dr. Oetker. Sue Buchta, current CEO, will remain in her role.
“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,” said Buchta. “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.”