(Reuters) – Turkey’s Yildiz Holding AS has agreed to buy privately owned DeMet’s Candy Co, the U.S. maker of Flipz chocolate pretzels and Turtles covered nut clusters, for $221 million, the Wall Street Journal reported.
The Turkish owner of Godiva chocolates will acquire DeMet’s from Brynwood Partners, a U.S. buyout firm, the paper said.
Brynwood is set to make more than four times the money it invested in DeMet’s, a person familiar with the matter told the Journal.
Yildiz Holding, Turkey’s largest food group, earlier this year bought Spanish discount retailer Dia’s Turkish operation DiaSA for 136.5 million euros ($183 million).
None of the parties were immediately available for comment when contacted by Reuters.