A London-based private equity firm has acquired the Detroit-based company, Second Nature Brands, which owns Sanders Chocolates and Kar's Nuts.
Palladium Equity Partners, which owns the company, announced the sale Tuesday to CapVest Partners in London. Terms are not disclosed.
"Today, Second Nature Brands is seeking to continue its accelerated growth while carrying on the legacy of the brands' founders and family traditions," a press release says. Operations stay in Metro Detroit.
"Second Nature Brands products, carrying the Kar's, Sanders and Second Nature brands, will continue to be proudly made In Michigan," Second Nature Brands CEO Vic Mehren says in a statement quoted by Crain's Detroit Business. "The work of our employees in Michigan is why CapVest was interested in Second Nature Brands."