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TowerBrook to sell Wilton Brands to German food and beverage company

Private equity firm TowerBrook Capital Partners LP agreed to sell Wilton Brands to German food and beverage company Dr. August Oetker KG for an undisclosed sum.

Wilton Brands will keep its headquarters in Naperville, Ill., and Sue Buchta will continue to lead the baking, cake-decorating and candy-making company as CEO.

Wilton, through partners, distributes its products to Walmart, Target, Michael's, Kroger, grocers across the U.S., and on Amazon.

The deal is scheduled to close by the end of 2018.